FAC Explorer

Audit 300231

FY End
2023-06-30
Total Expended
$880,558
Findings
2
Programs
1
Organization: Consolidated North County Levee District (MO)
Year: 2023 Accepted: 2024-03-29
Auditor: Botz Deal and Company PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
388529 2023-001 Material Weakness - P
964971 2023-001 Material Weakness - P

Programs

ALN Program Spent Major Findings
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $880,558 Yes 1

Contacts

Name Title Type
FR96XJ25H4L9 Kevin Wibbenmeyer Auditee
6367243355 Michele Graham Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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 reimbursements. De Minimis Rate Used: N Rate Explanation: The Consolidated North County Levee District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Expenditures reported on the Schedule are reported on the cash 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 reimbursements.
Title: NOTE 2 - INDIRECT COST RATE Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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 reimbursements. De Minimis Rate Used: N Rate Explanation: The Consolidated North County Levee District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Consolidated North County Levee District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3 – BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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 reimbursements. De Minimis Rate Used: N Rate Explanation: The Consolidated North County Levee District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Consolidated North County Levee District under programs of the federal government for the year ended June 30, 2023. The information in this Schedule 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 Consolidated North County Levee District, it is not intended to and does not present the financial position, or changes in net position of Consolidated North County Levee District.
Title: NOTE 4 – SUB-RECIPIENTS Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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 reimbursements. De Minimis Rate Used: N Rate Explanation: The Consolidated North County Levee District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. There were no awards passed through to sub-recipients.

Finding Details

Finding 2023-001
2023-001 Material Weakness in Internal Control Criteria: Management is responsible for establishing and maintaining internal controls in the financial reporting system and for the fair presentation of the financial position, results of operations, and disclosures in the financial statements, in conformity with the cash basis of accounting. Condition: The District does not have an individual that has the ability to evaluate the completeness and accuracy of the statements presented in accordance with the cash basis of accounting. Cause: The District only has a volunteer board and has elected to outsource the preparation of the annual financial statements. Effect: The District must rely on its external auditors to determine adherence to applicable cash basis of accounting. Recommendation: We recommend management to continue to evaluate its resources and the need for staff with the knowledge and ability to prepare financial statements in accordance with cash basis of accounting. Grantee’s Response: Management concurs with this finding and will continue to evaluate the risk of outsourcing financial statement preparation versus the cost of staffing at this level.
Finding 2023-001
2023-001 Material Weakness in Internal Control Criteria: Management is responsible for establishing and maintaining internal controls in the financial reporting system and for the fair presentation of the financial position, results of operations, and disclosures in the financial statements, in conformity with the cash basis of accounting. Condition: The District does not have an individual that has the ability to evaluate the completeness and accuracy of the statements presented in accordance with the cash basis of accounting. Cause: The District only has a volunteer board and has elected to outsource the preparation of the annual financial statements. Effect: The District must rely on its external auditors to determine adherence to applicable cash basis of accounting. Recommendation: We recommend management to continue to evaluate its resources and the need for staff with the knowledge and ability to prepare financial statements in accordance with cash basis of accounting. Grantee’s Response: Management concurs with this finding and will continue to evaluate the risk of outsourcing financial statement preparation versus the cost of staffing at this level.