Audit 309920

FY End
2023-12-31
Total Expended
$2.83M
Findings
12
Programs
2
Organization: Semo Electric Cooperative (MO)
Year: 2023 Accepted: 2024-06-25

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
402388 2023-001 Material Weakness - ABL
402389 2023-002 - - ABL
402390 2023-001 Material Weakness - ABL
402391 2023-002 - - ABL
402392 2023-001 Material Weakness - ABCL
402393 2023-001 Material Weakness - ABCL
978830 2023-001 Material Weakness - ABL
978831 2023-002 - - ABL
978832 2023-001 Material Weakness - ABL
978833 2023-002 - - ABL
978834 2023-001 Material Weakness - ABCL
978835 2023-001 Material Weakness - ABCL

Programs

ALN Program Spent Major Findings
21.029 Coronavirus Capital Projects Fund Program $197,808 Yes 1
21.027 Coronavirus State and Local Fiscal Recovery Funds $3,165 Yes 2

Contacts

Name Title Type
WQXLMRJ6W6B1 Sean Vanslyke Auditee
8008135230 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 of Federal Expenditures of Federal Awards 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: Indirect costs are charged to project, per application and budgets approved by State of Missouri Department of Economic Development Expenditures reported on the Schedule of Federal Expenditures of Federal Awards 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: NOTE 2 - INDIRECT COST RATE Accounting Policies: Expenditures reported on the Schedule of Federal Expenditures of Federal Awards 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: Indirect costs are charged to project, per application and budgets approved by State of Missouri Department of Economic Development The Cooperative 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 of Federal Expenditures of Federal Awards 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: Indirect costs are charged to project, per application and budgets approved by State of Missouri Department of Economic Development The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of SEMO Electric Cooperative and Subsidiary (the Cooperative) under programs of the federal government for the year ended December 31, 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 Cooperative, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Cooperative.
Title: NOTE 4 – SUBRECIPIENTS Accounting Policies: Expenditures reported on the Schedule of Federal Expenditures of Federal Awards 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: Indirect costs are charged to project, per application and budgets approved by State of Missouri Department of Economic Development There were no awards passed through to sub-recipients.

Finding Details

Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
ACTIVITIES ALLOWED/UNALLOWED; ALLOWABLE COST / COST PRINCIPLES; REPORTING Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation and materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
ACTIVITIES ALLOWED/UNALLOWED; ALLOWABLE COST / COST PRINCIPLES; REPORTING Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation and materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
ACTIVITIES ALLOWED/UNALLOWED; ALLOWABLE COST / COST PRINCIPLES; REPORTING Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation and materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
ACTIVITIES ALLOWED/UNALLOWED; ALLOWABLE COST / COST PRINCIPLES; REPORTING Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation and materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.
Condition: Materials charged to project work orders and reported as installed, were not adequately supported by contractor invoices, and not identified in subsequent reconciliations tracking project activity for grant reporting. Criteria: Effective controls are required to ensure reported project materials and related expenses are installed, completed and adequately documented for approved project area. Controls should include timely reconciliation between work order charges and related contractor invoices supporting installation of materials used to support proper safeguards, disbursement, and reporting. Cause: Errors existed in the total materials charged to project work orders, which were not identified timely by the Cooperative’s current monitoring and control activity procedures. Effect: Controls did not exist to adequately monitor and report the material charges on project work orders used for grant reporting. As a result, errors may exist in reported project expenses. Questioned Cost and Context: Due to timing and volume of activity incurred on the grant project, material charges were evaluated in total for selected work orders as of December 31, 2023 and reconciled to contractor invoices over the same period. Testing identified $44,500 in material charges, of total project expenses of $1,129,351, not adequately supported and considered to be a questioned cost. Recommendation: Procedures should be implemented to ensure more timely reconciliation of material charges to work orders and reporting project grant expenses. Adequate documentation should be maintained to support controls in place and installation of materials at defined project area. Procedures should include additional oversight and timely reconciliations of project expenses completed and reported. Grantee’s Response: Management concurs. Large fiber installation project still in process at year-end. Subsequent reconciliations have been completed. Controls and other project processes have been improved to ensure more timely reconciliation of material charge-outs to the timing of the installation of material.