FAC Explorer

Audit 315671

FY End
2023-09-30
Total Expended
$2.75M
Findings
2
Programs
4
Organization: Southern Iowa Council of Governments (IA)
Year: 2023 Accepted: 2024-07-23
Auditor: Roof Gerdes Erlbacher Plc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
479162 2023-002 Material Weakness - P
1055604 2023-002 Material Weakness - P

Programs

ALN Program Spent Major Findings
11.307 Economic Adjustment Assistance $2.55M Yes 1
11.302 Economic Development_support for Planning Organizations $120,204 - 0
20.205 Highway Planning and Construction $49,512 - 0
20.509 Formula Grants for Rural Areas and Tribal Transit Program $26,442 - 0

Contacts

Name Title Type
EUPKV7MJ1WQ6 Beth Waddle Auditee
6417828491 Steve Gerdes Auditor
No contacts on file

Notes to SEFA

Accounting Policies: EXPENDITURES REPORTED IN THE SCHEDULE ARE REPORTED ON THE ACCRUAL OR MODIFIED ACCRUAL BASIS OF ACCOUNTING, EXCEPT FOR REVOLVING LOAND FUND TRANSACTIONS (ECONOMIC ADJUSTMENT ASSISTANCE, CFDA 11.307), AS EXPLAINED ABOVE. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN THE UNIFORM GUIDANCE, WHEREIN CERTIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. De Minimis Rate Used: Both Rate Explanation: THE SOUTHERN IOWA COUNCIL OF GOVERNMENTS HAS ELECTED NOT TO USE THE 10% DE MINIMUS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.

Finding Details

Finding 2023-002
Loan Requirements - It does not appear the Government analyzes its borrowers loan covenant requirements for continuing compliance requirements. Specifically one instance was noted where the Government did not determine whether the borrower in question met the loan covenant requirements in relation to employment requirements and proof of insurance.
Finding 2023-002
Loan Requirements - It does not appear the Government analyzes its borrowers loan covenant requirements for continuing compliance requirements. Specifically one instance was noted where the Government did not determine whether the borrower in question met the loan covenant requirements in relation to employment requirements and proof of insurance.