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Audit 320068

FY End
2023-12-31
Total Expended
$1.06M
Findings
2
Programs
1
Organization: Redevelopment Authority of Allegheny County (PA)
Year: 2023 Accepted: 2024-09-19
Auditor: Zelenkofske Axelrod LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
497347 2023-001 Material Weakness Yes P
1073789 2023-001 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
14.905 Lead Hazard Reduction Demonstration Grant Program $1.06M Yes 1

Contacts

Name Title Type
G1VNLZE2KDE5 David Siford Auditee
4123501011 Brian Chruscial Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The Redevelopment Authority of Allegheny County (the Authority) as the reporting entity for financial reporting purposes is defined in Note 1 to the Authority's basic financial statements. For purposes of preparing the schedule of expenditures of federal awards, the Authority's reporting entity is the same that was used for financial reporting. The accompanying scheudle of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the Authority's basic financial statemetns. The Authority did not use the 10% de minimis indirect cost rate. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2023-001
Financial Statement Findings: Accounting Records Criteria: The accounts of the Authority shuold include all significant transactions in the period of benefit. Condition: During the audit, certain audit adjustments were required to record transactions in the period of benefit for the General Fund, Special Projects Fund, and EDF Fund. Cause: The Authority improperly recorded/reversed certain prior year accruals, booked certain prior year audit adjustments twice and did not record grant revenue to match grant expenditures in the current year. The Authority also did not properly record certain substanital transactions on the Special Fund, or the EDF Fund. Effect: The financial records for the General Fund, Special Projects Fund, and EDF Fund did not reflect the financial activity in the period of benefit, which could result in a material misstatement of the financial statements. This is a repeat finding from a previous year - Finding 2022-001. Recommendation: The Authority should enusre that internal control procedures over financial reporting are sufficient to identify and record all transactions in the period of benefit. Management Response: The Authority has initiated addiitonal levels of review in order to sufficiently identify and record all transactions in the period of benefit.
Finding 2023-001
Financial Statement Findings: Accounting Records Criteria: The accounts of the Authority shuold include all significant transactions in the period of benefit. Condition: During the audit, certain audit adjustments were required to record transactions in the period of benefit for the General Fund, Special Projects Fund, and EDF Fund. Cause: The Authority improperly recorded/reversed certain prior year accruals, booked certain prior year audit adjustments twice and did not record grant revenue to match grant expenditures in the current year. The Authority also did not properly record certain substanital transactions on the Special Fund, or the EDF Fund. Effect: The financial records for the General Fund, Special Projects Fund, and EDF Fund did not reflect the financial activity in the period of benefit, which could result in a material misstatement of the financial statements. This is a repeat finding from a previous year - Finding 2022-001. Recommendation: The Authority should enusre that internal control procedures over financial reporting are sufficient to identify and record all transactions in the period of benefit. Management Response: The Authority has initiated addiitonal levels of review in order to sufficiently identify and record all transactions in the period of benefit.