FAC Explorer

Audit 17862

FY End
2022-12-31
Total Expended
$3.79M
Findings
10
Programs
12
Organization: San Luis Valley Development Resources Group (CO)
Year: 2022 Accepted: 2023-09-28
Auditor: Wall Smith Bateman INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
26004 2022-003 Material Weakness - P
26005 2022-003 Material Weakness - P
26006 2022-003 Material Weakness - P
26007 2022-003 Material Weakness - P
26008 2022-002 Material Weakness - L
602446 2022-003 Material Weakness - P
602447 2022-003 Material Weakness - P
602448 2022-003 Material Weakness - P
602449 2022-003 Material Weakness - P
602450 2022-002 Material Weakness - L

Programs

ALN Program Spent Major Findings
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $963,596 Yes 2
11.307 Covid-19 Economic Adjustment Assistance - Eda Rlf $926,178 Yes 1
10.767 Intermediary Relending Program $749,840 - 0
11.307 Economic Adjustment Assistance - Eda Recap $418,304 Yes 1
11.307 Economic Adjustment Assistance - Eda Title Ix $170,052 Yes 1
93.569 Community Services Block Grant $153,017 - 0
11.302 Covid-19 Economic Development_support for Planning Organizations $108,840 - 0
93.569 Covid-19 Community Services Block Grant $93,422 - 0
59.037 Small Business Development Centers $80,000 - 0
11.302 Economic Development_support for Planning Organizations $70,000 - 0
59.037 Covid-19 Small Business Development Centers $50,622 - 0
20.205 Highway Planning and Construction $8,457 - 0

Contacts

Name Title Type
SN3TGF5JVF97 Sarah Stoeber Auditee
7195896099 Kimerley Temple Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. San Luis Valley Development Resources Group did elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance for the Economic Development Support for Planning Organizations and Community Services Block Grant programs for both COVID-19 and non-COVID-19 funds for the year ended December 31, 2022. The Organization did not pass-through federal funds to subrecipients. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of San Luis Valley Development Resources Group under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of San Luis Valley Development Resources Group, it is not intended to and does not present the financial position, changes in net assets or cash flows of San Luis Valley Development Resources Group.

Finding Details

Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-002
Finding 2022-002: Community Development Block Grants/State?s Program and Non-Entitlement Grants in Hawaii, Assistance No. 14.228 Passed through Colorado Department of Local Affairs and Rio Grande County Compliance Requirement: Reporting Grant No.: Not applicable Type of Finding: Internal Control (material weakness) and compliance (material noncompliance) Criteria: The reporting section of the Community Development Block Grant (CDBG) Guidebook requires award recipients to submit quarterly financial and program performance reports to the Colorado Department of Local Affairs. These reports shall be supported by underlying accounting or performance records and are fairly presented in accordance with program requirements. Condition: The Organization inaccurately reported amounts for the leverage section of the Quarterly Financial & Performance Status Report for the period ending December 31, 2022. Cause: The Organization does not have a complete system of internal controls that provides for the review of the Quarterly Financial & Performance Status Reports. Questioned Costs: None Effect: The Quarterly Financial & Performance Status Report contained errors and was not in complete compliance with the reporting section of CDBG Guidebook. Recommendation: The Organization should strengthen its internal controls with adopted policies and procedures to ensure accurate financial reporting in compliance with the CDBG Guidebook. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-003
Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.
Finding 2022-002
Finding 2022-002: Community Development Block Grants/State?s Program and Non-Entitlement Grants in Hawaii, Assistance No. 14.228 Passed through Colorado Department of Local Affairs and Rio Grande County Compliance Requirement: Reporting Grant No.: Not applicable Type of Finding: Internal Control (material weakness) and compliance (material noncompliance) Criteria: The reporting section of the Community Development Block Grant (CDBG) Guidebook requires award recipients to submit quarterly financial and program performance reports to the Colorado Department of Local Affairs. These reports shall be supported by underlying accounting or performance records and are fairly presented in accordance with program requirements. Condition: The Organization inaccurately reported amounts for the leverage section of the Quarterly Financial & Performance Status Report for the period ending December 31, 2022. Cause: The Organization does not have a complete system of internal controls that provides for the review of the Quarterly Financial & Performance Status Reports. Questioned Costs: None Effect: The Quarterly Financial & Performance Status Report contained errors and was not in complete compliance with the reporting section of CDBG Guidebook. Recommendation: The Organization should strengthen its internal controls with adopted policies and procedures to ensure accurate financial reporting in compliance with the CDBG Guidebook. Grantee?s Response: See Corrective Action Plan.