FAC Explorer

Audit 304159

FY End
2021-12-31
Total Expended
$1.96M
Findings
2
Programs
5
Organization: Envision Community Services INC (IL)
Year: 2021 Accepted: 2024-04-22
Auditor: Castillo & Company CPA LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
394033 2021-001 Significant Deficiency - L
970475 2021-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
96.036 US Dept of Public Health $710,324 Yes 0
84.287 US Dept of Ed $283,978 - 0
00.000 US Dept of Public Health $241,070 - 0
84.351 US Dept of Ed $92,505 Yes 0
14.218 US Dept of Hud $50,911 - 0

Contacts

Name Title Type
KVU7N952WLU8 Roberto Montejano Auditee
7737297689 David Castillo Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: ACCRUAL GAAP De Minimis Rate Used: Y Rate Explanation: 0.1 The Schedule of Expenditures of Federal Awards (Schedule) has been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The Schedule includes the federal grant activity of IMC and 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Subrecipients Accounting Policies: ACCRUAL GAAP De Minimis Rate Used: Y Rate Explanation: 0.1 ENVISION did not have any sub-recipients during the fiscal year 2021.
Title: Non-cash Assistance Accounting Policies: ACCRUAL GAAP De Minimis Rate Used: Y Rate Explanation: 0.1 ENVISION did not receive any Federally-funded non-cash assistance during the fiscal year 2021.
Title: Insurance Accounting Policies: ACCRUAL GAAP De Minimis Rate Used: Y Rate Explanation: 0.1 ENVISION had no Federally-funded insurance in effect during the fiscal year 2021.
Title: Loans Accounting Policies: ACCRUAL GAAP De Minimis Rate Used: Y Rate Explanation: 0.1 ENVISION did not have any Federally-funded loans or loan guarantees outstanding as of September 30, 2021.

Finding Details

Finding 2021-001
The financial statements and certain key underlying schedules for fiscal year 2021 were not fully reconciled and available for audit purposes until more than eight (8) months after the fiscal year end. In order to maintain effective internal controls over financial reporting it is essential that financial statements be closed in a timely manner once the fiscal year ends. This condition was due to several factors including the termination of the prior accounting firm providing accounting and financial reporting services without a transition plan in place for the current accountant. As such, it appears that a lot of time was needed to learn the key accounting processes, accounting software and specific accounting and financial reporting issues which delayed the process of reconciling and closing the accounting records for fiscal year 2022. The effect is that controls over the financial reporting process were weakened thereby increasing the risk that material misstatements could be included in the financial statements without management being aware.
Finding 2021-001
The financial statements and certain key underlying schedules for fiscal year 2021 were not fully reconciled and available for audit purposes until more than eight (8) months after the fiscal year end. In order to maintain effective internal controls over financial reporting it is essential that financial statements be closed in a timely manner once the fiscal year ends. This condition was due to several factors including the termination of the prior accounting firm providing accounting and financial reporting services without a transition plan in place for the current accountant. As such, it appears that a lot of time was needed to learn the key accounting processes, accounting software and specific accounting and financial reporting issues which delayed the process of reconciling and closing the accounting records for fiscal year 2022. The effect is that controls over the financial reporting process were weakened thereby increasing the risk that material misstatements could be included in the financial statements without management being aware.