FAC Explorer

Audit 309308

FY End
2022-12-31
Total Expended
$1.73M
Findings
2
Programs
1
Organization: Americans for the Arts (DC)
Year: 2022 Accepted: 2024-06-20
Auditor: Marcum LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
401276 2022-002 Material Weakness Yes L
977718 2022-002 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
45.024 Promotion of the Arts_grants to Organizations and Individuals $1.73M Yes 1

Contacts

Name Title Type
VHJMYKF6VMN3 Matt Ryan Auditee
2023712830 Eric Glantz Auditor
No contacts on file

Notes to SEFA

Title: Subrecipients Accounting Policies: Expenditures reported on the SEFA 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. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The Organization did not pass any federal awards through to subrecipients during the year ended December 31, 2022.
Title: Basis of Presentation Accounting Policies: Expenditures reported on the SEFA 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. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of the Organization under programs of the federal government for the year ended December 31, 2022. 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 SEFA presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.

Finding Details

Finding 2022-002
ALN #45.024 Finding No. 2022-002: Reporting – Compliance Finding and Material Weakness in Internal Control Over Compliance Criteria Federal regulations require that the Data Collection Form be submitted within 30 days of management’s receipt of the audited reports or within nine months of an organization’s fiscal year end, whichever is earliest. Context The Organization did not timely submit its Data Collection Form to the Federal Clearinghouse by the required due date for its 2022 fiscal year end. Cause The delay in filing was the result of delay in the year-end close process for the year ended December 31, 2022. Effect Noncompliance under the Uniform Guidance could be considered as part of any future award decisions by federal agencies. Questioned Cost: None Repeat Finding Yes, this is a repeat of finding number 2021-002 Recommendation We recommend that management enhance its year end financial close process to include sufficient procedures to adequately prepare for the performance of a Single Audit within the prescribed reporting deadline. Views of Responsible Officials and Planned Corrective Actions See Correction Action Plan.
Finding 2022-002
ALN #45.024 Finding No. 2022-002: Reporting – Compliance Finding and Material Weakness in Internal Control Over Compliance Criteria Federal regulations require that the Data Collection Form be submitted within 30 days of management’s receipt of the audited reports or within nine months of an organization’s fiscal year end, whichever is earliest. Context The Organization did not timely submit its Data Collection Form to the Federal Clearinghouse by the required due date for its 2022 fiscal year end. Cause The delay in filing was the result of delay in the year-end close process for the year ended December 31, 2022. Effect Noncompliance under the Uniform Guidance could be considered as part of any future award decisions by federal agencies. Questioned Cost: None Repeat Finding Yes, this is a repeat of finding number 2021-002 Recommendation We recommend that management enhance its year end financial close process to include sufficient procedures to adequately prepare for the performance of a Single Audit within the prescribed reporting deadline. Views of Responsible Officials and Planned Corrective Actions See Correction Action Plan.