FAC Explorer

Audit 314814

FY End
2023-12-31
Total Expended
$1.10M
Findings
2
Programs
1
Organization: Village of Lisbon (LA)
Year: 2023 Accepted: 2024-07-10
Auditor: M Carleen Dumas CPA

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
478105 2023-002 Material Weakness - P
1054547 2023-002 Material Weakness - P

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.10M Yes 1

Contacts

Name Title Type
DWSBHBMP1RK6 Alisha Middleton Auditee
3182453535 Carleen Dumas Auditor
No contacts on file

Notes to SEFA

Title: Note 1 - Basis of Accounting Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal funds activity of the Village, and is presented on the accrual 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. Expenditures in this schedule represent only the federally funded portions of the program. The Village’s records should be consulted to determine the amounts expended from non-federal sources. De Minimis Rate Used: N Rate Explanation: All costs were direct costs. The accompanying Schedule of Expenditures of Federal Awards includes the federal funds activity of the Village, and is presented on the accrual 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. Expenditures in this schedule represent only the federally funded portions of the program. The Village’s records should be consulted to determine the amounts expended from non-federal sources.
Title: Note 2 - Indirect Cost Rate Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal funds activity of the Village, and is presented on the accrual 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. Expenditures in this schedule represent only the federally funded portions of the program. The Village’s records should be consulted to determine the amounts expended from non-federal sources. De Minimis Rate Used: N Rate Explanation: All costs were direct costs. The Village has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2023-002
Failure to Maintain Complete Accounting Records for Federal Awards Critera: Title 2 U. S. Code of Federal Regulations (CFR) Section 200.303, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) requires that the Village establish and maintain internal control over federal awards that provide reasonable assurance that the Village is managing the federal awards in compliance with federal statutes, regulations, and the terms and conditions of the federal award. One of the objectives of internal control over compliance is to ensure that federal transactions are properly recorded and accounted for in order to permit the preparation of reliable financial statements, including the Schedule of Expenditures of Federal Awards. Condition: The federal award transactions were not recorded in the Village’s accounting records. Cause: The accounting software that the Village uses to maintain its other accounting records was not compatible with establishing and maintaining the accountingcords for the federal awards transactions. Effect: Federal award transactions could possibly be excluded from the financial statements and the Schedule of Expenditures of Federal Awards. Recommendation: All future federal award transactions should be recorded as transactions of the Water System Enterprise Fund in the accounting software.
Finding 2023-002
Failure to Maintain Complete Accounting Records for Federal Awards Critera: Title 2 U. S. Code of Federal Regulations (CFR) Section 200.303, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) requires that the Village establish and maintain internal control over federal awards that provide reasonable assurance that the Village is managing the federal awards in compliance with federal statutes, regulations, and the terms and conditions of the federal award. One of the objectives of internal control over compliance is to ensure that federal transactions are properly recorded and accounted for in order to permit the preparation of reliable financial statements, including the Schedule of Expenditures of Federal Awards. Condition: The federal award transactions were not recorded in the Village’s accounting records. Cause: The accounting software that the Village uses to maintain its other accounting records was not compatible with establishing and maintaining the accountingcords for the federal awards transactions. Effect: Federal award transactions could possibly be excluded from the financial statements and the Schedule of Expenditures of Federal Awards. Recommendation: All future federal award transactions should be recorded as transactions of the Water System Enterprise Fund in the accounting software.