FAC Explorer

Audit 296617

FY End
2023-06-30
Total Expended
$991,852
Findings
2
Programs
1
Organization: Bedford Regional Water Authority (VA)
Year: 2023 Accepted: 2024-03-22
Auditor: Brown Edwards & CO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
383574 2023-003 - - I
960016 2023-003 - - I

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $991,852 Yes 1

Contacts

Name Title Type
FW9QANJ167V5 Jill W. Underwood Auditee
5405866098 Susan Chapman Auditor
No contacts on file

Notes to SEFA

Title: OUTSTANDING LOAN BALANCES Accounting Policies: The accompanying schedule of federal expenditures includes the activity of all federally assisted programs of the Bedford Regional Water Authority and is presented on the modified accrual basis of accounting, as described in Note 1 to the Authority's basic financial statements. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on this schedule. De Minimis Rate Used: N Rate Explanation: The entity did not elect to use the 10% de minimis indirect cost rate. At June 30, 2023, the Authority had no outstanding loan balances requiring continuing disclosure.

Finding Details

Finding 2023-003
2023-003: Procurement Policies and Procedures – COVID-19 – Coronavirus State and Local Fiscal Recovery Fund – AL# 21.027 Condition: The Authority adheres to and follows Virginia Public Procurement Act “VPPA” for procurement, however, under the requirements of Uniform Guidance, the Authority does not have complete, written procurement policies that are in compliance with the additional standards required by the Uniform Guidance (2 CFR Part 200). Criteria: Under the requirements in the Uniform Guidance, all entities are required to have written procurement policies that conform to applicable Federal laws and regulations and standards. The complete procurement standards are located at 2 CFR Part 200, Sections 317 through 326. Cause: The Authority does not have its own written procurement policies that conform to applicable Federal laws and regulations and standards. Effect: The lack of the Authority’s own written policies under the specific requirements of the Uniform Guidance could result in potential improper procurement using Federal funds. Recommendation: Management should update existing written procurement procedures to align with Uniform Guidance requirements for all purchases to be made with Federal funds. Management’s Response: Management recognizes the importance of compliance with the Uniform Guidance and plans to develop a policy that adheres to all requirements.
Finding 2023-003
2023-003: Procurement Policies and Procedures – COVID-19 – Coronavirus State and Local Fiscal Recovery Fund – AL# 21.027 Condition: The Authority adheres to and follows Virginia Public Procurement Act “VPPA” for procurement, however, under the requirements of Uniform Guidance, the Authority does not have complete, written procurement policies that are in compliance with the additional standards required by the Uniform Guidance (2 CFR Part 200). Criteria: Under the requirements in the Uniform Guidance, all entities are required to have written procurement policies that conform to applicable Federal laws and regulations and standards. The complete procurement standards are located at 2 CFR Part 200, Sections 317 through 326. Cause: The Authority does not have its own written procurement policies that conform to applicable Federal laws and regulations and standards. Effect: The lack of the Authority’s own written policies under the specific requirements of the Uniform Guidance could result in potential improper procurement using Federal funds. Recommendation: Management should update existing written procurement procedures to align with Uniform Guidance requirements for all purchases to be made with Federal funds. Management’s Response: Management recognizes the importance of compliance with the Uniform Guidance and plans to develop a policy that adheres to all requirements.