FAC Explorer

Audit 18766

FY End
2022-06-30
Total Expended
$943,649
Findings
4
Programs
1
Organization: Fdny Foundation, Inc. (NY)
Year: 2022 Accepted: 2023-05-10
Auditor: Buchbinder Tunick & CO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
23368 2022-001 Significant Deficiency - AB
23369 2022-002 Significant Deficiency - P
599810 2022-001 Significant Deficiency - AB
599811 2022-002 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
97.044 Assistance to Firefighters Grant $943,649 Yes 2

Contacts

Name Title Type
CM7XAYKLGUR7 Jean O'Shea Auditee
7189990779 Matthew Simon 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. De Minimis Rate Used: N Rate Explanation: The Foundation elects not to use the 10% de minimis indirect cost rate allowed by the Department of Homeland Security for grant reporting. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the FDNY Foundation, Inc. under a program funded by the federal government for the year ended June 30, 2022. The information in the 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 the FDNY Foundation, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of the FDNY Foundation, Inc.For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the FDNY Foundation, Inc. and agencies and departments of the federal government.

Finding Details

Finding 2022-001
Condition: Written procedures do not specifically address federal funds or the use thereof. Criteria: Compliance requirements for Activities Allowed or Unallowed and Allowable Costs state that the organization must have written polices and control procedures for costs coded to federal awards. Cause: FDNY Foundation employs a small staff of experienced people. Because staff tend to remain employed for longer terms, FDNY Foundation does not find it effective to create extensive written procedures and instead relies on the SKE of the staff. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Update the written procedures or create a formal finance manual and specifically address the use of federal funds. Implement a schedule to periodically review and update written procedures.
Finding 2022-002
Condition: Federal Audit Clearinghouse filing for the current year (2022) was not completed timely. Criteria: 2 CFR ?200.512 requires the auditee to submit a reporting package to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause: FDNY Foundation usually receives no more than one federal grant per year. Due to the COVID-19 pandemic, the Foundation received extensions on two grants that caused the grant periods to overlap, The Foundation properly tracked expenditures by grant year but, because of the unusual situation, did not realize that the sum of the two grants exceeded the single audit threshold in the current year. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Perform an annual review of all federal funds to verify whether the cumulative total of expenditures of federal funds meets or exceeds the $750,000 single audit threshold.
Finding 2022-001
Condition: Written procedures do not specifically address federal funds or the use thereof. Criteria: Compliance requirements for Activities Allowed or Unallowed and Allowable Costs state that the organization must have written polices and control procedures for costs coded to federal awards. Cause: FDNY Foundation employs a small staff of experienced people. Because staff tend to remain employed for longer terms, FDNY Foundation does not find it effective to create extensive written procedures and instead relies on the SKE of the staff. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Update the written procedures or create a formal finance manual and specifically address the use of federal funds. Implement a schedule to periodically review and update written procedures.
Finding 2022-002
Condition: Federal Audit Clearinghouse filing for the current year (2022) was not completed timely. Criteria: 2 CFR ?200.512 requires the auditee to submit a reporting package to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause: FDNY Foundation usually receives no more than one federal grant per year. Due to the COVID-19 pandemic, the Foundation received extensions on two grants that caused the grant periods to overlap, The Foundation properly tracked expenditures by grant year but, because of the unusual situation, did not realize that the sum of the two grants exceeded the single audit threshold in the current year. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Perform an annual review of all federal funds to verify whether the cumulative total of expenditures of federal funds meets or exceeds the $750,000 single audit threshold.