FAC Explorer

Audit 304534

FY End
2022-06-30
Total Expended
$1.46M
Findings
2
Programs
1
Organization: Wausau Area Performing Arts Foundation, Inc. (WI)
Year: 2022 Accepted: 2024-04-25
Auditor: Wipfli LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
394633 2022-002 Significant Deficiency - P
971075 2022-002 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
59.075 Shuttered Venue Operators Grant Program $1.46M Yes 1

Contacts

Name Title Type
DK86VWKUEEN9 Sean White Auditee
7158420988 Mike Webber Auditor
No contacts on file

Notes to SEFA

Title: Basis of Accounting Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Performing Arts Foundation, Inc. under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with requirements of the 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 Performing Arts Foundation, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Performing Arts Foundation, Inc. De Minimis Rate Used: N Rate Explanation: Performing Arts Foundation, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance. 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.
Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Performing Arts Foundation, Inc. under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with requirements of the 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 Performing Arts Foundation, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Performing Arts Foundation, Inc. De Minimis Rate Used: N Rate Explanation: Performing Arts Foundation, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance. Performing Arts Foundation, Inc. does not have any sub-recipients of federal awards

Finding Details

Finding 2022-002
Finding Number: 2022 002 Data Collection Form Late Submission Repeat Finding: No Questioned Costs: None Funding Agency: U.S. Small Business Administration Title: Shuttered Venue Operators Grant AL Number: 59.075 Award Year: 01/01/2021 06/30/2022 Condition The Foundation did not submit the June 30, 2022 data collection form and reporting package to the Federal Audit Clearinghouse in a timely manner. Criteria The Report Submission that is codified in 2 CFR Part 200.512 requires the auditee must submit the applicable data elements of the data collection form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause The Foundation's June 30, 2022 audit was not completed prior to the due date. Effect The Organization was not in compliance with audit submission requirements, resulting in a significant deficiency in internal controls over compliance. Recommendation We recommend the Foundation implement systems and procedures to ensure timely completion of its audit and submission of the audit package to the Federal Audit Clearinghouse. View of Responsible Officials Management agrees with the finding and has committed to a corrective action plan.
Finding 2022-002
Finding Number: 2022 002 Data Collection Form Late Submission Repeat Finding: No Questioned Costs: None Funding Agency: U.S. Small Business Administration Title: Shuttered Venue Operators Grant AL Number: 59.075 Award Year: 01/01/2021 06/30/2022 Condition The Foundation did not submit the June 30, 2022 data collection form and reporting package to the Federal Audit Clearinghouse in a timely manner. Criteria The Report Submission that is codified in 2 CFR Part 200.512 requires the auditee must submit the applicable data elements of the data collection form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause The Foundation's June 30, 2022 audit was not completed prior to the due date. Effect The Organization was not in compliance with audit submission requirements, resulting in a significant deficiency in internal controls over compliance. Recommendation We recommend the Foundation implement systems and procedures to ensure timely completion of its audit and submission of the audit package to the Federal Audit Clearinghouse. View of Responsible Officials Management agrees with the finding and has committed to a corrective action plan.