FAC Explorer

Audit 301266

FY End
2023-06-30
Total Expended
$2.56M
Findings
2
Programs
3
Organization: Chesapeake Research Consortium, Inc. (MD)
Year: 2023 Accepted: 2024-03-30
Auditor: Kbst&m

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
390517 2023-005 Significant Deficiency - P
966959 2023-005 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
66.466 Chesapeake Bay Program $1.92M Yes 1
11.457 Chesapeake Bay Studies $592,145 - 0
47.050 Geosciences $45,607 - 0

Contacts

Name Title Type
K5DGXNSLGLT5 Matthew Trommatter Auditee
4107981283 Deanna M. Amos Auditor
No contacts on file

Notes to SEFA

Title: Recconciliation to Statement of Activities Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Chesapeake Research Consortium, Inc. (the Consortium) 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 the Consortium, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Consortium. 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. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The Consortium has a negotiated indirect cost rate. Program expenditures presented on the Statement of Activities does not agree with the Schedule of Expenditures of Federal Awards as follows: Chesapeake Bay Program: Agency In-Kind Contribution-$293,822, Reimbursed Indirect Costs-$327,368, Allowable Indirect Costs-$10,000, Total CBP Reconciling Adjustment -$631,190. Chesapeake Bay Studies: Reimbursed Indirect Costs/Total CBS Reconciling Adjustment - $116,596. Geosciences: Reimbursed Indirect Costs/Total Geosciences Reconciling Adjustment - $6,197. Other program: Reimbursed Indirect Costs - ($10,000), Non-Federal Program Funds - ($18,075) - Total Other Program Reconciling Adjustment - ($28,075).

Finding Details

Finding 2023-005
Significant Deficiency. As discussed at Finding 2023-004, the same payroll expenses totaling $59,192, were charged to two federal grants during fiscal year ending June 30, 2023. Costs were approved for funding during the interim funding period on an existing award; however, after the new grant funds were awarded, the costs were charged and drawn again. Internal controls should be in place to provide reasonable assurance that adjustments are correct by having proper segregation of duties to track and record journal entries and review and approval of journal entries.
Finding 2023-005
Significant Deficiency. As discussed at Finding 2023-004, the same payroll expenses totaling $59,192, were charged to two federal grants during fiscal year ending June 30, 2023. Costs were approved for funding during the interim funding period on an existing award; however, after the new grant funds were awarded, the costs were charged and drawn again. Internal controls should be in place to provide reasonable assurance that adjustments are correct by having proper segregation of duties to track and record journal entries and review and approval of journal entries.