FAC Explorer

Audit 311531

FY End
2023-09-20
Total Expended
$1.24M
Findings
2
Programs
1
Organization: Development Authority of Cherokee County (GA)
Year: 2023 Accepted: 2024-07-02
Auditor: 58-2610796

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
405971 2023-001 - - ABHILM
982413 2023-001 - - ABHILM

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.24M Yes 1

Contacts

Name Title Type
NK3NGX6T8LB6 Kristyne Davis Auditee
7703450600 George Murphy Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The SEFA is prepared on the cash basis of accounting De Minimis Rate Used: N Rate Explanation: Indirect costs are allocated on a functional basis The accompanying schedule of expenditures of federal awards includes the American Rescue Plan Act Fund activity of the Development Authority of Cherokee County and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.

Finding Details

Finding 2023-001
A balanced budget was not adopted for the American Rescue Plan Act Fund, which is a special revenue fund. Because the award had not yet been received at the time the Authority's budget was prepared and adopted, Management was not yet aware that the budget was required. An amendment to include the budget was not prepared after the special revenue fund was created.
Finding 2023-001
A balanced budget was not adopted for the American Rescue Plan Act Fund, which is a special revenue fund. Because the award had not yet been received at the time the Authority's budget was prepared and adopted, Management was not yet aware that the budget was required. An amendment to include the budget was not prepared after the special revenue fund was created.