FAC Explorer

Audit 27200

FY End
2022-06-30
Total Expended
$3.13M
Findings
4
Programs
4
Organization: Town of Moorcroft Wyoming (WY)
Year: 2022 Accepted: 2023-01-03
Auditor: Casey Peterson LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
31504 2022-004 Material Weakness - B
31505 2022-004 Material Weakness - B
607946 2022-004 Material Weakness - B
607947 2022-004 Material Weakness - B

Programs

ALN Program Spent Major Findings
10.760 Water and Waste Disposal Systems for Rural Communities $2.04M Yes 1
21.027 Coronavirus State and Local Fiscal Recovery Funds $188,238 - 0
20.616 National Priority Safety Programs $1,493 - 0
20.600 State and Community Highway Safety $310 - 0

Contacts

Name Title Type
M89JGC1UA163 Cheryl Schneider Auditee
3077563526 Deidre Budahl Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Town of Moorcroft under programs of the federal government for the year ended June 30, 2022. Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following 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) , wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES (10.760) - Balances outstanding at the end of the audit period were 3277000. The Town is eligible to draw $6,178,913 from the Water and Waste Disposal Systems for Rural Communities loans and grants. The Town is eligible to draw $3,277,000 in loan funds. The beginning loan balance for theyear ended June 30, 2022 was $2,379,463. During the year ended June 30, 2022, the Town drew the remaining $897,537 on the loan. The loan balance at June 30, 2022 was $3,277,000. The Town is eligible to draw $2,901,913 in grant funds. The beginning grant balance for the year ended June 30, 2022 was $0. During the year ended June 30, 2022, the Town drew $2,041,720 from the grant. The grant balance at June 30, 2022 was $2,041,720. Unused grant funds were de-obligated and returned to USDA Rural Development.

Finding Details

Finding 2022-004
Condition: During our testing of the major program, we noted numerous errors on draw requests. In addition, accounting for construction costs and federal grant and loan proceeds under this program were difficult to identify in the records. Criteria: Draw requests should be reviewed to ensure proper management of grant funding. Cause: Town management relied on the engineer and USDA staff to aggregate and monitor costs. Effect: Records related to grant and loan draws were incomplete. Repeat of Prior Finding: No. This is a new finding in the current year. Auditor?s Recommendation: We recommend Town work with engineers to review and approve the draw requests for all grant funding. Each draw request should agree with the Town?s underlying accounting records. View of Management: Management agrees with the finding. A response can be found in the Corrective Action Plan.
Finding 2022-004
Condition: During our testing of the major program, we noted numerous errors on draw requests. In addition, accounting for construction costs and federal grant and loan proceeds under this program were difficult to identify in the records. Criteria: Draw requests should be reviewed to ensure proper management of grant funding. Cause: Town management relied on the engineer and USDA staff to aggregate and monitor costs. Effect: Records related to grant and loan draws were incomplete. Repeat of Prior Finding: No. This is a new finding in the current year. Auditor?s Recommendation: We recommend Town work with engineers to review and approve the draw requests for all grant funding. Each draw request should agree with the Town?s underlying accounting records. View of Management: Management agrees with the finding. A response can be found in the Corrective Action Plan.
Finding 2022-004
Condition: During our testing of the major program, we noted numerous errors on draw requests. In addition, accounting for construction costs and federal grant and loan proceeds under this program were difficult to identify in the records. Criteria: Draw requests should be reviewed to ensure proper management of grant funding. Cause: Town management relied on the engineer and USDA staff to aggregate and monitor costs. Effect: Records related to grant and loan draws were incomplete. Repeat of Prior Finding: No. This is a new finding in the current year. Auditor?s Recommendation: We recommend Town work with engineers to review and approve the draw requests for all grant funding. Each draw request should agree with the Town?s underlying accounting records. View of Management: Management agrees with the finding. A response can be found in the Corrective Action Plan.
Finding 2022-004
Condition: During our testing of the major program, we noted numerous errors on draw requests. In addition, accounting for construction costs and federal grant and loan proceeds under this program were difficult to identify in the records. Criteria: Draw requests should be reviewed to ensure proper management of grant funding. Cause: Town management relied on the engineer and USDA staff to aggregate and monitor costs. Effect: Records related to grant and loan draws were incomplete. Repeat of Prior Finding: No. This is a new finding in the current year. Auditor?s Recommendation: We recommend Town work with engineers to review and approve the draw requests for all grant funding. Each draw request should agree with the Town?s underlying accounting records. View of Management: Management agrees with the finding. A response can be found in the Corrective Action Plan.