FAC Explorer

Audit 16120

FY End
2023-06-30
Total Expended
$1.63M
Findings
4
Programs
6
Organization: City of Baxter (TN)
Year: 2023 Accepted: 2024-02-07
Auditor: Denning & Cantrell CPAS PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
366491 2023-004 Material Weakness - L
366492 2023-004 Material Weakness - L
942933 2023-004 Material Weakness - L
942934 2023-004 Material Weakness - L

Programs

ALN Program Spent Major Findings
11.300 Investments for Public Works and Economic Development Facilities $1.12M Yes 1
21.027 Coronavirus State and Local Fiscal Recovery Funds $246,962 - 0
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $159,896 - 1
97.044 Assistance to Firefighters Grant $49,031 - 0
10.766 Community Facilities Loans and Grants $34,600 - 0
23.006 Appalachian Regional Development (see Individual Appalachian Programs) $19,163 - 0

Contacts

Name Title Type
ZPS2MBBJ7HS7 Sharon Carlile Auditee
9318584111 Glendon W Cantrell Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: It is presented on the accrual basis of accounting. The information is prsented in accordance with the requirements of OMB Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations." Therefore, some amounts presented in, or used in the preparation of, the basic financial statements. The City has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: the 10-pecent de minimus indirect cost rate as allowed under the Uniform Guidance The accompanying schedule of expenditures of federal awards, state financial assistance, and other awards includes the federal and state grant activity of the Town and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations." Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The Town has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2023-004
Grant receivables were not recorded correctly at year end. The City Recorder was unaware expenditures should be recorded as a receivable at year end. Grant revenues were not correctly recorded. At year end grant expenditures should be calculated, and grant receivables should be recorded. MTAS has been contacted for the City's financial advisor to train the City Recorder on grant entries
Finding 2023-004
Grant receivables were not recorded correctly at year end. The City Recorder was unaware expenditures should be recorded as a receivable at year end. Grant revenues were not correctly recorded. At year end grant expenditures should be calculated, and grant receivables should be recorded. MTAS has been contacted for the City's financial advisor to train the City Recorder on grant entries
Finding 2023-004
Grant receivables were not recorded correctly at year end. The City Recorder was unaware expenditures should be recorded as a receivable at year end. Grant revenues were not correctly recorded. At year end grant expenditures should be calculated, and grant receivables should be recorded. MTAS has been contacted for the City's financial advisor to train the City Recorder on grant entries
Finding 2023-004
Grant receivables were not recorded correctly at year end. The City Recorder was unaware expenditures should be recorded as a receivable at year end. Grant revenues were not correctly recorded. At year end grant expenditures should be calculated, and grant receivables should be recorded. MTAS has been contacted for the City's financial advisor to train the City Recorder on grant entries