FAC Explorer

Audit 296524

FY End
2023-06-30
Total Expended
$798,401
Findings
4
Programs
1
Organization: Vermont Association for the Education of Young Children (VT)
Year: 2023 Accepted: 2024-03-21
Auditor: Mudgett Jennett & Krogh-Wisner PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
383331 2023-004 Material Weakness - L
383332 2023-005 Material Weakness - L
959773 2023-004 Material Weakness - L
959774 2023-005 Material Weakness - L

Programs

ALN Program Spent Major Findings
93.575 Child Care and Development Block Grant $265,018 Yes 1

Contacts

Name Title Type
VCGDK5P1JMT4 Sharron Harrington Auditee
8022341090 John H. Mudgett, CPA 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: Y Rate Explanation: The VTAEYC has elected to use the 10 percent de minimis indirect cost rate as allowed in the Uniform Guidance.

Finding Details

Finding 2023-004
Condition - The VTAEYC Schedule of Expenditures of Federal Awards presented for audit for the year ended June 30, 2023 included State of Vermont funded expenditures totaling $137,488. The Schedule of Expenditures of Federal Awards has been corrected to account for this error. Criteria - Uniform Guidance §200.510 states that an auditee must “prepare a schedule of expenditures of Federal awards for the period covered by the auditee’s financial statements which must include the total Federal awards expended”. Cause - When preparing the Schedule of Expenditures of Federal Awards VTAEYC did not account for two grant agreements that are partially funded with State of Vermont funds. Effect - VTAEYC’s Schedule of Expenditures of Federal Awards presented for audit was overstated by $137,488.
Finding 2023-005
Condition - The VTAEYC Schedule of Expenditures of Federal Awards presented for audit for the year ended June 30, 2023 included State of Vermont funded expenditures totaling $137,488. The Schedule of Expenditures of Federal Awards has been corrected to account for this error. Criteria - Uniform Guidance §200.510 states that an auditee must “prepare a schedule of expenditures of Federal awards for the period covered by the auditee’s financial statements which must include the total Federal awards expended”. Cause - When preparing the Schedule of Expenditures of Federal Awards VTAEYC did not account for two grant agreements that are partially funded with State of Vermont funds. Effect - VTAEYC’s Schedule of Expenditures of Federal Awards presented for audit was overstated by $137,488.
Finding 2023-004
Condition - The VTAEYC Schedule of Expenditures of Federal Awards presented for audit for the year ended June 30, 2023 included State of Vermont funded expenditures totaling $137,488. The Schedule of Expenditures of Federal Awards has been corrected to account for this error. Criteria - Uniform Guidance §200.510 states that an auditee must “prepare a schedule of expenditures of Federal awards for the period covered by the auditee’s financial statements which must include the total Federal awards expended”. Cause - When preparing the Schedule of Expenditures of Federal Awards VTAEYC did not account for two grant agreements that are partially funded with State of Vermont funds. Effect - VTAEYC’s Schedule of Expenditures of Federal Awards presented for audit was overstated by $137,488.
Finding 2023-005
Condition - The VTAEYC Schedule of Expenditures of Federal Awards presented for audit for the year ended June 30, 2023 included State of Vermont funded expenditures totaling $137,488. The Schedule of Expenditures of Federal Awards has been corrected to account for this error. Criteria - Uniform Guidance §200.510 states that an auditee must “prepare a schedule of expenditures of Federal awards for the period covered by the auditee’s financial statements which must include the total Federal awards expended”. Cause - When preparing the Schedule of Expenditures of Federal Awards VTAEYC did not account for two grant agreements that are partially funded with State of Vermont funds. Effect - VTAEYC’s Schedule of Expenditures of Federal Awards presented for audit was overstated by $137,488.