Audit 322122

FY End
2022-09-30
Total Expended
$1.59M
Findings
4
Programs
1
Organization: Rmi Ports Authority (MH)
Year: 2022 Accepted: 2024-09-29

Organization Exclusion Status:

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Findings

ID Ref Severity Repeat Requirement
499299 2022-003 Material Weakness - F
499300 2022-004 Material Weakness - L
1075741 2022-003 Material Weakness - F
1075742 2022-004 Material Weakness - L

Programs

ALN Program Spent Major Findings
20.106 Airport Improvement Program $1.59M Yes 2

Contacts

Name Title Type
PNNRLKBH3TY5 Thomas Maddison Auditee
6926258269 John Onedera Auditor
No contacts on file

Notes to SEFA

Title: 1. Scope of Audit Accounting Policies: 3. Summary of Significant Accounting Policies Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting, consistent with the manner in which the Authority maintains its accounting records. All expenses and capital outlays are reported as expenditures. 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. Pass-through entity identifying numbers are presented where available. The Authority has not elected to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The RMI Ports Authority (the Authority) was created under Public Law No. 2003-81 and is a component unit of the Republic of the Marshall Islands (RepMar). Only the transactions of the Authority are included within the scope of the Single Audit.
Title: 2. Basis of Presentation Accounting Policies: 3. Summary of Significant Accounting Policies Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting, consistent with the manner in which the Authority maintains its accounting records. All expenses and capital outlays are reported as expenditures. 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. Pass-through entity identifying numbers are presented where available. The Authority has not elected to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Authority under programs of the federal government for the year ended September 30, 2022. 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 Authority, it is not intended to and does not present the net position, changes in net position or cash flows of the Authority.

Finding Details

Finding No. 2022-003 Federal Agency: U.S Department of Transportation Assistance Listing Program: 20.106 Airport Improvement Program Federal Award No.: 3-68-0001-023-2020 Area: Equipment and Real Property Management Questioned Costs: $0 Criteria: In accordance with applicable equipment and real property management requirements, the Authority must comply with the following: •Under 2 CFR section 200.313(d)(1), property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the federal award identification number), who holds title, the acquisition date, cost of the property, percentage of federal participation in the project costs for the federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sales price of the property. •Under 2 CFR section 200.313(d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. •Under 2 CFR section 200.313(d)(2), a control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. Conditions: 1.For 1 (or 100%) item tested, the Authority included description of the property, which is generic or limited (i.e., TO CAPITALISE THE NEW FIRE TRUCK) and related property records did not include serial number or identification number, federal award identification number, percentage of federal participation in the project costs for the federal award under which the property was acquired, and the location, use and condition of the property. 2.The Authority did not perform required physical inventory and reconciliation for all equipment and real properties acquired from Federal funds. 3.Furthermore, there is no control system to ensure adequate safeguards to prevent loss, damage, or theft of all equipment and real properties acquired from Federal funds. Cause: The Authority lacks internal control policies and procedures over compliance with applicable equipment and real property management requirements. Effect: The Authority is exposed to the risk of possible unauthorized use, misappropriation, and disposition of property without being noticed due to the lack of internal controls and proper supporting accounting records. No questioned costs are reported as we are unable to determine the quantitative impact to the program.
Finding No. 2022-004 Federal Agency: U.S Department of Transportation Assistance Listing Program: 20.106 Airport Improvement Program Federal Award No(s).: 3-68-0001-018-2017 3-68-0001-020-2019 3-68-0001-022-2020 3-68-0001-023-2020 3-68-0001-024-2020 3-68-0001-025-2022 Area: Reporting Questioned Costs: $0 Criteria: In accordance with applicable reporting requirements and with grant terms and conditions, the Authority is responsible for submitting a signed/dated SF-270 (non-construction projects) or SF-271 or equivalent (construction projects) and SF-425 annually, due 90 days after the end of each federal fiscal year in which the grants are open (due December 31 of each year). Condition: For the year ended September 30, 2022, the Authority was not able to provide and submit the required annual SF-425 report for the grants open as of and for the year ended September 30, 2022, having a due date of December 31, 2022. Cause: The Authority lacks internal control policies and procedures over submission of required reports and monitoring report deadlines to ensure compliance with reporting requirements. Effect: The Authority is in noncompliance with applicable reporting requirements and no questioned costs are reported as we are unable to determine the quantitative impact to the program. In addition, the Authority could be subject to penalties or sanctions from the Federal Aviation Administration.
Finding No. 2022-003 Federal Agency: U.S Department of Transportation Assistance Listing Program: 20.106 Airport Improvement Program Federal Award No.: 3-68-0001-023-2020 Area: Equipment and Real Property Management Questioned Costs: $0 Criteria: In accordance with applicable equipment and real property management requirements, the Authority must comply with the following: •Under 2 CFR section 200.313(d)(1), property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the federal award identification number), who holds title, the acquisition date, cost of the property, percentage of federal participation in the project costs for the federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sales price of the property. •Under 2 CFR section 200.313(d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. •Under 2 CFR section 200.313(d)(2), a control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. Conditions: 1.For 1 (or 100%) item tested, the Authority included description of the property, which is generic or limited (i.e., TO CAPITALISE THE NEW FIRE TRUCK) and related property records did not include serial number or identification number, federal award identification number, percentage of federal participation in the project costs for the federal award under which the property was acquired, and the location, use and condition of the property. 2.The Authority did not perform required physical inventory and reconciliation for all equipment and real properties acquired from Federal funds. 3.Furthermore, there is no control system to ensure adequate safeguards to prevent loss, damage, or theft of all equipment and real properties acquired from Federal funds. Cause: The Authority lacks internal control policies and procedures over compliance with applicable equipment and real property management requirements. Effect: The Authority is exposed to the risk of possible unauthorized use, misappropriation, and disposition of property without being noticed due to the lack of internal controls and proper supporting accounting records. No questioned costs are reported as we are unable to determine the quantitative impact to the program.
Finding No. 2022-004 Federal Agency: U.S Department of Transportation Assistance Listing Program: 20.106 Airport Improvement Program Federal Award No(s).: 3-68-0001-018-2017 3-68-0001-020-2019 3-68-0001-022-2020 3-68-0001-023-2020 3-68-0001-024-2020 3-68-0001-025-2022 Area: Reporting Questioned Costs: $0 Criteria: In accordance with applicable reporting requirements and with grant terms and conditions, the Authority is responsible for submitting a signed/dated SF-270 (non-construction projects) or SF-271 or equivalent (construction projects) and SF-425 annually, due 90 days after the end of each federal fiscal year in which the grants are open (due December 31 of each year). Condition: For the year ended September 30, 2022, the Authority was not able to provide and submit the required annual SF-425 report for the grants open as of and for the year ended September 30, 2022, having a due date of December 31, 2022. Cause: The Authority lacks internal control policies and procedures over submission of required reports and monitoring report deadlines to ensure compliance with reporting requirements. Effect: The Authority is in noncompliance with applicable reporting requirements and no questioned costs are reported as we are unable to determine the quantitative impact to the program. In addition, the Authority could be subject to penalties or sanctions from the Federal Aviation Administration.