FAC Explorer

Audit 294120

FY End
2023-06-30
Total Expended
$1.60M
Findings
2
Programs
10
Organization: Centennial School District R-1 (CO)
Year: 2023 Accepted: 2024-03-07
Auditor: Green & Associates LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
374450 2023-002 Material Weakness - L
950892 2023-002 Material Weakness - L

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $1.17M Yes 1
84.010 Title I Grants to Local Educational Agencies $245,687 - 0
10.555 National School Lunch Program $103,339 - 0
10.553 School Breakfast Program $28,803 - 0
84.424 Student Support and Academic Enrichment Program $15,544 - 0
10.558 Child and Adult Care Food Program $14,042 - 0
10.582 Fresh Fruit and Vegetable Program $6,268 - 0
84.358 Rural Education $5,832 - 0
84.367 Improving Teacher Quality State Grants $1,396 - 0
10.649 Pandemic Ebt Administrative Costs $1,281 - 0

Contacts

Name Title Type
SLNSEFRERZX9 Lisa Dupont Auditee
7196723322 David Green Auditor
No contacts on file

Notes to SEFA

Title: Note 1 Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal financial assistance provided to sub recipients is treated as an expenditure when it is paid to the sub-recipient. The Authority passed through $0 to sub-recipients for the year then ended. De Minimis Rate Used: N Rate Explanation: The District utilizes various rates based on the allowable amounts in the grant agreements. The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal financial assistance provided to sub recipients is treated as an expenditure when it is paid to the sub-recipient. The Authority passed through $0 to sub-recipients for the year then ended.
Title: Note 2 Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal financial assistance provided to sub recipients is treated as an expenditure when it is paid to the sub-recipient. The Authority passed through $0 to sub-recipients for the year then ended. De Minimis Rate Used: N Rate Explanation: The District utilizes various rates based on the allowable amounts in the grant agreements. Food Service inventory consisted of purchsed and donated commodities. Purchased inventories are state at cost whereas donated commodities are valued at their estimated fair market value at the date of receipt

Finding Details

Finding 2023-002
Criteria: As a condition of the receipt of funding the District is required to timely and accurately report their expenditures to the State of Colorado on an annual basis. Conditions / Context: The District has not implemented a complete system of internal control to prevent or detect financial misstatements and ensure compliance with Federal awards. Cause: Due to improper coding of capital outlay the District did not properly identify expenditures that should be capitalized and therefore did not accurately report the capital outlay and operating expenditures on the annual report to the State of Colorado. Effect: As a result of this condition the District was not able to accurately report the expenditure of Federal awards to the awarding agency. Recommendation: We recommend the District develop a process to ensure that invoices are recorded to an appropriate general ledger account that properly represents the transaction being recorded. Management’s Response: The district will develop a process to ensure that capital assets are recorded to the appropriate general ledger accounts that properly represents the transaction being recorded.
Finding 2023-002
Criteria: As a condition of the receipt of funding the District is required to timely and accurately report their expenditures to the State of Colorado on an annual basis. Conditions / Context: The District has not implemented a complete system of internal control to prevent or detect financial misstatements and ensure compliance with Federal awards. Cause: Due to improper coding of capital outlay the District did not properly identify expenditures that should be capitalized and therefore did not accurately report the capital outlay and operating expenditures on the annual report to the State of Colorado. Effect: As a result of this condition the District was not able to accurately report the expenditure of Federal awards to the awarding agency. Recommendation: We recommend the District develop a process to ensure that invoices are recorded to an appropriate general ledger account that properly represents the transaction being recorded. Management’s Response: The district will develop a process to ensure that capital assets are recorded to the appropriate general ledger accounts that properly represents the transaction being recorded.