FAC Explorer

Audit 294142

FY End
2023-06-30
Total Expended
$1.42M
Findings
2
Programs
10
Organization: Brattleboro Development Credit Corporation (VT)
Year: 2023 Accepted: 2024-03-08
Auditor: Marcum LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
374479 2023-001 Significant Deficiency - L
950921 2023-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $358,110 Yes 0
17.289 Community Project Funding/congressionally Directed Spending $258,558 Yes 1
59.046 Microloan Program $201,759 - 0
59.007 7(j) Technical Assistance $155,656 - 0
10.870 Rural Microentrepreneur Assistance Program $126,667 - 0
11.024 Build to Scale $91,961 - 0
10.446 Rural Community Development Initiative $84,252 - 0
10.766 Community Facilities Loans and Grants $50,227 - 0
93.566 Refugee and Entrant Assistance_state Administered Programs $27,925 - 0
90.601 Northern Border Regional Development $10,000 - 0

Contacts

Name Title Type
MMAVDLXGDMS4 Bobbi Kilburn Auditee
8022577731 Alyssa Simard Auditor
No contacts on file

Notes to SEFA

Title: Donated Personal Protective Equipment (PPE) (Unaudited) Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Brattleboro Development Credit Corporation (BDCC) under programs of the federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of BDCC, it is not intended to and does not present the financial position, changes in net position, or cash flows of BDCC. 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. De Minimis Rate Used: N Rate Explanation: BDCC has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance. During the year ended June 30, 2023, BDCC did not receive donated PPE from Federal sources.

Finding Details

Finding 2023-001
Improve Controls and Timing of Reporting Federal Program Information Federal Agency: U.S. Department of Labor Cluster/Program: Community Project Funding/Congressionally Directed Spending Award Name: A Pathway to Employment for Every Working Vermonter (PEEWV) AL Number: 17.289 Award Year: 2023 Compliance Requirement: Reporting Type of Finding Compliance Internal Control over Compliance - Significant Deficiency Criteria or Specific Requirement Under the requirements of the Federal Funding Accountability and Transparency Act (Pub. L. No. 109-282), as amended by Section 6202 of Public Law 110-252, hereafter referred as the “Transparency Act” that are codified in 2 CFR Part 170, recipients (i.e., direct recipients) of grants or cooperative agreements are required to report first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). Condition and Context BDCC did not comply with the requirements of the Transparency Act related to reporting first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS), as follows: SEE TABLE Cause Weakness in the design and operation of controls over compliance related to Transparency Act requirements. Effect or Potential Effect Due to the weaknesses in internal controls noted above, BDCC did not timely comply with the requirements of the Transparency Act related to reporting first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). Questioned Costs No questioned costs are reported as this requirement is procedural in nature. Recommendation BDCC should develop procedures to comply with the Transparency Act related to reporting first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). Views of Responsible Official Management agrees with the finding. Planned Corrective Action Management’s corrective action plan is included at the end of this report after the Schedule of Prior Year Findings.
Finding 2023-001
Improve Controls and Timing of Reporting Federal Program Information Federal Agency: U.S. Department of Labor Cluster/Program: Community Project Funding/Congressionally Directed Spending Award Name: A Pathway to Employment for Every Working Vermonter (PEEWV) AL Number: 17.289 Award Year: 2023 Compliance Requirement: Reporting Type of Finding Compliance Internal Control over Compliance - Significant Deficiency Criteria or Specific Requirement Under the requirements of the Federal Funding Accountability and Transparency Act (Pub. L. No. 109-282), as amended by Section 6202 of Public Law 110-252, hereafter referred as the “Transparency Act” that are codified in 2 CFR Part 170, recipients (i.e., direct recipients) of grants or cooperative agreements are required to report first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). Condition and Context BDCC did not comply with the requirements of the Transparency Act related to reporting first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS), as follows: SEE TABLE Cause Weakness in the design and operation of controls over compliance related to Transparency Act requirements. Effect or Potential Effect Due to the weaknesses in internal controls noted above, BDCC did not timely comply with the requirements of the Transparency Act related to reporting first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). Questioned Costs No questioned costs are reported as this requirement is procedural in nature. Recommendation BDCC should develop procedures to comply with the Transparency Act related to reporting first-tier subawards of $30,000 or more to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS). Views of Responsible Official Management agrees with the finding. Planned Corrective Action Management’s corrective action plan is included at the end of this report after the Schedule of Prior Year Findings.