FAC Explorer

Audit 25787

FY End
2022-06-30
Total Expended
$4.81M
Findings
2
Programs
2
Organization: Children's Theatre Company (MN)
Year: 2022 Accepted: 2022-10-30
Auditor: Eide Bailly LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
36338 2022-001 Significant Deficiency - ABH
612780 2022-001 Significant Deficiency - ABH

Programs

ALN Program Spent Major Findings
59.075 Shuttered Venue Operators Grant Program $4.55M Yes 1
45.024 Promotion of the Arts_grants to Organizations and Individuals $150,000 - 0

Contacts

Name Title Type
KDSNHY67S3Q8 Jill Jensen Auditee
6128725126 Beth Farley Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Note 1 - Basis of Presentation The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of The Children's Theatre Company (the Theatre) under programs of the Federal Government for the year ended June 30, 2022. The information 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 Theatre, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Theatre. Note 2 - Significant Accounting PoliciesExpenditures reported on the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-001
2022-001 Small Business Administration, 59.075, SBAHQ21SV002734.2, 2021 Shuttered Venue Operators Grant Allowable Activities and Costs and Period of Performance Significant Deficiency in Internal Controls over Compliance Criteria: 2 CFR 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and conditions of the federal award. Condition: For 16 items tested, there was no formal documentation of the review of the expense prior to payment. Cause: The Children's Theatre Company has designed internal controls over these areas; however, the controls were not formally documented. Effect: The condition may affect The Children's Theatre Company`s ability to support compliance with allowable activities and costs requirements and period of performance. Questioned Costs: None reported. Context/Sampling: A non-statistical sample of 60 transactions out of 3,665 total transactions were selected for testing, which accounted for $1,316,561 of $4,549,989 of federal program expenditures. Repeat Finding from Prior Year(s): No Recommendation: We recommend the procedures related to review of expenses be formally documented to ensure the control process is properly supported and the documentation is retained. Views of Responsible Officials: Management is in agreement with this finding.
Finding 2022-001
2022-001 Small Business Administration, 59.075, SBAHQ21SV002734.2, 2021 Shuttered Venue Operators Grant Allowable Activities and Costs and Period of Performance Significant Deficiency in Internal Controls over Compliance Criteria: 2 CFR 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and conditions of the federal award. Condition: For 16 items tested, there was no formal documentation of the review of the expense prior to payment. Cause: The Children's Theatre Company has designed internal controls over these areas; however, the controls were not formally documented. Effect: The condition may affect The Children's Theatre Company`s ability to support compliance with allowable activities and costs requirements and period of performance. Questioned Costs: None reported. Context/Sampling: A non-statistical sample of 60 transactions out of 3,665 total transactions were selected for testing, which accounted for $1,316,561 of $4,549,989 of federal program expenditures. Repeat Finding from Prior Year(s): No Recommendation: We recommend the procedures related to review of expenses be formally documented to ensure the control process is properly supported and the documentation is retained. Views of Responsible Officials: Management is in agreement with this finding.