FAC Explorer

Audit 293600

FY End
2023-09-30
Total Expended
$2.91M
Findings
2
Programs
2
Organization: It Takes A Village to Feed One Child, INC (PA)
Year: 2023 Accepted: 2024-03-05
Auditor: Crescent Consulting LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
372298 2023-001 Material Weakness - ABC
948740 2023-001 Material Weakness - ABC

Programs

ALN Program Spent Major Findings
10.558 Child and Adult Care Food Program $2.85M Yes 1
59.008 Disaster Assistance Loans $56,815 - 0

Contacts

Name Title Type
MFEVMM87DL83 Mark Wainwright Auditee
8887029610 Joshua Landry Auditor
No contacts on file

Notes to SEFA

Title: Note 1 ‐ Basis of Presentation Accounting Policies: Expenditures reported in 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 and 45 CFR Part 75, subpart E, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization currently has no grants to which the 10% de minimis cost rate would apply. The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Organization under programs of the federal government for the year ended June 30, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Note 2 ‐ Summary of Significant Accounting Policies Accounting Policies: Expenditures reported in 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 and 45 CFR Part 75, subpart E, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization currently has no grants to which the 10% de minimis cost rate would apply. Expenditures reported in 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 and 45 CFR Part 75, subpart E, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 3 ‐ Indirect Cost Rate Accounting Policies: Expenditures reported in 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 and 45 CFR Part 75, subpart E, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization currently has no grants to which the 10% de minimis cost rate would apply. The Organization currently has no grants to which the 10% de minimis cost rate would apply and has elected not to use this rate.

Finding Details

Finding 2023-001
Condition Several features of the accounting system necessary to maintain information appropriate to produce GAAP financial statements and facilitate grant compliance were not used, including: • Accounts receivable • Accounts payable • Credit card reconciliations • Review and approval routing of expenditures • Separation of functional activities Criteria: Management should design the entity’s information system and related control activities over technology to achieve objectives and respond to risks. Cause Management has not established and documented appropriate procedures for the use of its financial information system. Potential Effect of Condition Management may make improper decisions or submit improper reports to grantor agencies based upon incomplete or incorrect data. Expenses may not be adequately captured for timely reimbursement, unallowable expenses may not be detected and corrected timely. Recommendation Management should seek training or other means to improve their understanding of their accounting software and implement formal accounting procedures which take advantage of their software and facilitate better grant reporting and compliance. Management Response See corrective action plan attached to the end of this report.
Finding 2023-001
Condition Several features of the accounting system necessary to maintain information appropriate to produce GAAP financial statements and facilitate grant compliance were not used, including: • Accounts receivable • Accounts payable • Credit card reconciliations • Review and approval routing of expenditures • Separation of functional activities Criteria: Management should design the entity’s information system and related control activities over technology to achieve objectives and respond to risks. Cause Management has not established and documented appropriate procedures for the use of its financial information system. Potential Effect of Condition Management may make improper decisions or submit improper reports to grantor agencies based upon incomplete or incorrect data. Expenses may not be adequately captured for timely reimbursement, unallowable expenses may not be detected and corrected timely. Recommendation Management should seek training or other means to improve their understanding of their accounting software and implement formal accounting procedures which take advantage of their software and facilitate better grant reporting and compliance. Management Response See corrective action plan attached to the end of this report.