FAC Explorer

Audit 320025

FY End
2023-12-31
Total Expended
$827,728
Findings
4
Programs
4
Organization: The Global Orphan Project, Inc. (MO)
Year: 2023 Accepted: 2024-09-19
Auditor: Emerick & Company PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
497328 2023-001 Significant Deficiency - P
497329 2023-001 Significant Deficiency - P
1073770 2023-001 Significant Deficiency - P
1073771 2023-001 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
93.556 Promoting Safe and Stable Families $180,000 Yes 1
93.603 Adoption Incentive Payments $155,702 Yes 1
93.669 Child Abuse and Neglect State Grants $155,026 - 0
93.558 Temporary Assistance for Needy Families $150,000 - 0

Contacts

Name Title Type
NA37CLHC8VT4 Jacob Holland Auditee
8165368333 Rachel Bowman Auditor
No contacts on file

Notes to SEFA

Title: NOTE A: BASIS OF PRESENTATION Accounting Policies: 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 to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has not elected to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of The Global Orphan Project, Inc. and Subsidiaries (the Organization) 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 Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of The Global Orphan Project, Inc. and Subsidiaries.

Finding Details

Finding 2023-001
Condition: The accounting staff tracks restricted net asset activity in the accounting system based on activity within the restricted money market account. However, a process that ensures all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period has not been established, causing multiple adjustments and revisions to the net asset schedule. Criteria: Internal controls should be in place that provide reasonable assurance that the financial statements are free of material misstatements. Cause: Due to growth of the Organization over the last several years, restricted net assets have increased and a better tracking system is needed to capture increased activity. Effect: Restricted net assets may be over or understated at year end. Recommendation: Management should enhance the process for tracking restricted net assets, ensuring that all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period. Views of Responsible Officials and Planned Corrective Actions: The Global Orphan Project, Inc. and Subsidiaries agrees with the finding and the auditor's recommendations have been adopted.
Finding 2023-001
Condition: The accounting staff tracks restricted net asset activity in the accounting system based on activity within the restricted money market account. However, a process that ensures all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period has not been established, causing multiple adjustments and revisions to the net asset schedule. Criteria: Internal controls should be in place that provide reasonable assurance that the financial statements are free of material misstatements. Cause: Due to growth of the Organization over the last several years, restricted net assets have increased and a better tracking system is needed to capture increased activity. Effect: Restricted net assets may be over or understated at year end. Recommendation: Management should enhance the process for tracking restricted net assets, ensuring that all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period. Views of Responsible Officials and Planned Corrective Actions: The Global Orphan Project, Inc. and Subsidiaries agrees with the finding and the auditor's recommendations have been adopted.
Finding 2023-001
Condition: The accounting staff tracks restricted net asset activity in the accounting system based on activity within the restricted money market account. However, a process that ensures all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period has not been established, causing multiple adjustments and revisions to the net asset schedule. Criteria: Internal controls should be in place that provide reasonable assurance that the financial statements are free of material misstatements. Cause: Due to growth of the Organization over the last several years, restricted net assets have increased and a better tracking system is needed to capture increased activity. Effect: Restricted net assets may be over or understated at year end. Recommendation: Management should enhance the process for tracking restricted net assets, ensuring that all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period. Views of Responsible Officials and Planned Corrective Actions: The Global Orphan Project, Inc. and Subsidiaries agrees with the finding and the auditor's recommendations have been adopted.
Finding 2023-001
Condition: The accounting staff tracks restricted net asset activity in the accounting system based on activity within the restricted money market account. However, a process that ensures all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period has not been established, causing multiple adjustments and revisions to the net asset schedule. Criteria: Internal controls should be in place that provide reasonable assurance that the financial statements are free of material misstatements. Cause: Due to growth of the Organization over the last several years, restricted net assets have increased and a better tracking system is needed to capture increased activity. Effect: Restricted net assets may be over or understated at year end. Recommendation: Management should enhance the process for tracking restricted net assets, ensuring that all restricted activity is captured and reported utilizing a roll forward schedule from the beginning to the end of the accounting period. Views of Responsible Officials and Planned Corrective Actions: The Global Orphan Project, Inc. and Subsidiaries agrees with the finding and the auditor's recommendations have been adopted.