FAC Explorer

Audit 19360

FY End
2022-04-30
Total Expended
$1.85M
Findings
2
Programs
5
Organization: Village of Rantoul (IL)
Year: 2022 Accepted: 2023-01-08
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
22093 2022-004 Significant Deficiency - L
598535 2022-004 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
11.307 Economic Adjustment Assistance $1.24M Yes 1
14.218 Community Development Block Grants/entitlement Grants $44,123 - 0
10.558 Child and Adult Care Food Program $23,245 - 0
20.205 Highway Planning and Construction $22,925 - 0
20.106 Airport Improvement Program Covid 19 $4,670 - 0

Contacts

Name Title Type
LJW3VQGNC4K5 Jolene Gensler Auditee
2178926850 Hope Wheeler Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of the Village of Rantoul, Illinois (the Village) under programs of the federal government for the year ended April 30, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Village, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Village.Basis of Accounting and Cost PrinciplesExpenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Noncash Awards The Village did not receive noncash assistance during the fiscal year.Insurance in ForceThere was no insurance in force during the fiscal year provided by a federal agency. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. LoansThe following is a schedule of loans outstanding at year-end $1,358,376 EDA REVOLVING LOAN PROGRAMEDA Revolving Loan Program (Assistance Listing 11.307) represents cash, securities, and loans outstanding that are 75% funded by the United States Department of Commerce during the year ended April 30, 2022. The total outstanding loan balances for the program are disclosed in Note 1. Total cash and securities on hand were $403,667 and $114,642, respectively.

Finding Details

Finding 2022-004
Federal Agency: U.S. Department of Commerce Federal Program Name: EDA Revolving Loan Fund Assistance Listing Number: 11.307 Federal Award Identification Number and Year: 06-49-02663 and Ongoing Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: May 1, 2021 to April 30, 2022 Type of Finding: ? Significant Deficiency in Internal Control Over Compliance ? Other Matters Criteria or Specific Requirement: Federal guidelines require internal control over specific requirements related to reporting of the EDA Revolving Loan Fund. The form ED-209 report must be submitted at a frequency as directed by EDA (13 CRF section 307.14(a)). Condition: During our testing over the semi-annual filings, it was noted the filings were not submitted timely by the due date noted within the electronic filing system. Context: This was noted during the testing over electronic filings completed during fiscal year 2022. Questioned Costs: None Cause: Management does not have a process in place to ensure required filings are completed and submitted by the due date noted in the filing system. Effect: The lack of timely filings could result in delay or denial of future funding due to noncompliance. Repeat Finding: N/A Recommendation: We recommend that the Village implement a process to ensure all required filings are completed timely. There should be a review process in place to ensure compliance with grant requirements.
Finding 2022-004
Federal Agency: U.S. Department of Commerce Federal Program Name: EDA Revolving Loan Fund Assistance Listing Number: 11.307 Federal Award Identification Number and Year: 06-49-02663 and Ongoing Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: May 1, 2021 to April 30, 2022 Type of Finding: ? Significant Deficiency in Internal Control Over Compliance ? Other Matters Criteria or Specific Requirement: Federal guidelines require internal control over specific requirements related to reporting of the EDA Revolving Loan Fund. The form ED-209 report must be submitted at a frequency as directed by EDA (13 CRF section 307.14(a)). Condition: During our testing over the semi-annual filings, it was noted the filings were not submitted timely by the due date noted within the electronic filing system. Context: This was noted during the testing over electronic filings completed during fiscal year 2022. Questioned Costs: None Cause: Management does not have a process in place to ensure required filings are completed and submitted by the due date noted in the filing system. Effect: The lack of timely filings could result in delay or denial of future funding due to noncompliance. Repeat Finding: N/A Recommendation: We recommend that the Village implement a process to ensure all required filings are completed timely. There should be a review process in place to ensure compliance with grant requirements.