FAC Explorer

Audit 320480

FY End
2024-06-30
Total Expended
$29.89M
Findings
2
Programs
1
Organization: Saluda County Water and Sewer Authority (SC)
Year: 2024 Accepted: 2024-09-23
Auditor: The Brittingham Group LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
497903 2024-001 Significant Deficiency - L
1074345 2024-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
10.760 Water and Waste Disposal Systems for Rural Communities $29.89M Yes 1

Contacts

Name Title Type
JPWMBLGZMUT9 Jason Fell Auditee
8644459572 William Hancock Auditor
No contacts on file

Notes to SEFA

Title: 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 obtained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority under programs of the federal government for the fiscal year ended June 30, 2024. The information in this schedule is presented in accordance with requirements of the 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 Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Saluda County Water and Sewer Authority.
Title: Basis for Determining Federal Awards Expended Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles obtained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Authority expended a total of $29,888,706 in federal awards from July 1, 2023 through June 30, 2024. All of these expenditures were related to the USDA loan program. The outstanding balance for USDA revenue bonds related to the loan program was $54,925,536 as of June 30, 2024.

Finding Details

Finding 2024-001
Criteria: Saluda County Water Sewer Authority (“the Authority”) did not have proper internal control structures in place to submit June 30, 2023 financial statements to the Federal Audit Clearinghouse within nine months after year-end as required. Condition: The Authority was required to submit financial statements within nine months of year-end to fulfill the financial and compliance audit requirements under Uniform Guidance. Cause: Due to the complex nature of the federal program, the Authority was unaware of interim financing being construed as federal expenditures. Effect: The Authority was not in compliance with Uniform Guidance requirements. Auditors’ Recommendation: Authority management should implement procedures to ensure that all filings are completed in a timely manner, as required.
Finding 2024-001
Criteria: Saluda County Water Sewer Authority (“the Authority”) did not have proper internal control structures in place to submit June 30, 2023 financial statements to the Federal Audit Clearinghouse within nine months after year-end as required. Condition: The Authority was required to submit financial statements within nine months of year-end to fulfill the financial and compliance audit requirements under Uniform Guidance. Cause: Due to the complex nature of the federal program, the Authority was unaware of interim financing being construed as federal expenditures. Effect: The Authority was not in compliance with Uniform Guidance requirements. Auditors’ Recommendation: Authority management should implement procedures to ensure that all filings are completed in a timely manner, as required.