FAC Explorer

Audit 26882

FY End
2022-06-30
Total Expended
$812,123
Findings
2
Programs
5
Organization: Boise Bible College, Inc. (ID)
Year: 2022 Accepted: 2023-06-22
Auditor: Harris CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
31630 2022-002 Material Weakness - L
608072 2022-002 Material Weakness - L

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $370,000 Yes 1
84.063 Federal Pell Grant Program $235,975 - 0
84.032 Federal Family Education Loans $161,936 - 0
84.408 Postsecondary Education Scholarships for Veteran's Dependents $38,509 - 0
84.007 Federal Supplemental Educational Opportunity Grants $5,703 - 0

Contacts

Name Title Type
NYKPAA9B9NW3 Steven Marshall Auditee
2086084247 David Hegstrom Auditor
No contacts on file

Notes to SEFA

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. The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: 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. The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2022-002
Criteria: 2 CFR Section 200.512 (a)(1) states that Boise Bible College, Inc.?s single audit must be completed and the data collection form must be submitted nine months after the end of the audit period. Condition: The Organization did not complete and submit its single audit within nine months after the end of the audit period. Cause: The Organization does not have a proper internal control structure in place to complete its single audit requirement in a timely manner. Effect: Users of the financial statements do not have timely access to the Organization?s financial information. Questioned Costs: None. Recommendation: Management should develop a review process to ensure that the financial information is recorded appropriately in accordance with generally accepted accounting principles, is properly reconciled and recorded at year-end in a timely manner, and audits are completed in a timely manner in accordance with 2 CFR Section 200.512. Views of Responsible Officials: Management will work to develop the proper procedures to ensure that balances are appropriately reconciled at year-end and recorded in accordance with generally accepted accounting principles, so the reporting requirements in 2 CFR Section 200.512 are met.
Finding 2022-002
Criteria: 2 CFR Section 200.512 (a)(1) states that Boise Bible College, Inc.?s single audit must be completed and the data collection form must be submitted nine months after the end of the audit period. Condition: The Organization did not complete and submit its single audit within nine months after the end of the audit period. Cause: The Organization does not have a proper internal control structure in place to complete its single audit requirement in a timely manner. Effect: Users of the financial statements do not have timely access to the Organization?s financial information. Questioned Costs: None. Recommendation: Management should develop a review process to ensure that the financial information is recorded appropriately in accordance with generally accepted accounting principles, is properly reconciled and recorded at year-end in a timely manner, and audits are completed in a timely manner in accordance with 2 CFR Section 200.512. Views of Responsible Officials: Management will work to develop the proper procedures to ensure that balances are appropriately reconciled at year-end and recorded in accordance with generally accepted accounting principles, so the reporting requirements in 2 CFR Section 200.512 are met.