FAC Explorer

Audit 319875

FY End
2023-12-31
Total Expended
$3.60M
Findings
2
Programs
2
Organization: Northern Kentucky Convention and Visitors Bureau (KY)
Year: 2023 Accepted: 2024-09-18
Auditor: Dean Dorton Allen Ford PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
497274 2023-003 Material Weakness - L
1073716 2023-003 Material Weakness - L

Programs

ALN Program Spent Major Findings
11.307 Economic Adjustment Assistance $756,173 Yes 1
21.027 Coronavirus State and Local Fiscal Recovery Funds $274,500 Yes 0

Contacts

Name Title Type
CMXPKAC6V2Y5 Mary Watkins Auditee
8592614677 Stephanie Allgeyer Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) include the federal award activity of the Bureau 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 Bureau, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Bureau. Expenditures reported on the Schedule 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The Bureau has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2023-003
Finding 2023-003: Reporting Federal Program: Economic Adjustment Assistance [AL #11.307]. Criteria: Per 2 CFR 200.334, financial records, supports documents, statistical records, and all other non-Federal entity records pertinent to a Federal award must be retained for a period of three years from the date of submission of the final expenditure report or, for Federal awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, respectively, as reported to the Federal awarding agency or pass-through entity in the case of a subrecipient. Condition: The Bureau was unable to provide documentation that their annual report was submitted to the Kentucky Department of Tourism. As such, the report was unable to be tested. Cause: Controls were not in place to ensure records were maintained in accordance with the Uniform Guidance. Effect: The reporting requirements were unable to be tested. Questioned Costs: None Context: This is not a systemic problem. Repeat Finding: This is not a repeat finding. Recommendation: We recommend the Bureau maintain all records related to Federal awards, including making copies of reports submitted, to ensure compliance with the award. Management Response: The management team received limited guidance on the testing, reporting, and retention requirements of federal funds. In the future, copies of all reports and documentation of timely submission will be maintained by the management team.
Finding 2023-003
Finding 2023-003: Reporting Federal Program: Economic Adjustment Assistance [AL #11.307]. Criteria: Per 2 CFR 200.334, financial records, supports documents, statistical records, and all other non-Federal entity records pertinent to a Federal award must be retained for a period of three years from the date of submission of the final expenditure report or, for Federal awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, respectively, as reported to the Federal awarding agency or pass-through entity in the case of a subrecipient. Condition: The Bureau was unable to provide documentation that their annual report was submitted to the Kentucky Department of Tourism. As such, the report was unable to be tested. Cause: Controls were not in place to ensure records were maintained in accordance with the Uniform Guidance. Effect: The reporting requirements were unable to be tested. Questioned Costs: None Context: This is not a systemic problem. Repeat Finding: This is not a repeat finding. Recommendation: We recommend the Bureau maintain all records related to Federal awards, including making copies of reports submitted, to ensure compliance with the award. Management Response: The management team received limited guidance on the testing, reporting, and retention requirements of federal funds. In the future, copies of all reports and documentation of timely submission will be maintained by the management team.