Audit 325553

FY End

2024-06-30

Total Expended

$869,405

Findings

4

Programs

1

Organization: Tulsa Performing Arts Center Trust (OK)

Year: 2024 Accepted: 2024-10-22

Auditor: Hogantaylor LLP

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
503396	2024-001	-	-	L
503397	2024-001	-	-	L
1079838	2024-001	-	-	L
1079839	2024-001	-	-	L

ALN	Program	Spent	Major	Findings
21.027	Coronavirus State and Local Fiscal Recovery Funds	$50,000	Yes	1

Contacts

Name	Title	Type
E7T3HNDQNNN8	Jennifer Alden	Auditee
9185967128	Andy Gorham	Auditor
No contacts on file

Notes to SEFA

Title: Note 1 – Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Tulsa Performing Arts Center Trust (TPACT) under programs of the federal government for the year ended June 30, 2024. 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 operations of TPACT, it is not intended and does not represent the financial position, changes in net assets, functional expenses or cash flows of TPACT. De Minimis Rate Used: N Rate Explanation: Tulsa Performing Arts Center Trust has elected not to use the 10% de minimis 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 Tulsa Performing Arts Center Trust (TPACT) under programs of the federal government for the year ended June 30, 2024. 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 operations of TPACT, it is not intended and does not represent the financial position, changes in net assets, functional expenses or cash flows of TPACT.

Title: Note 2 – Summary of Significant Accounting Policies Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Tulsa Performing Arts Center Trust (TPACT) under programs of the federal government for the year ended June 30, 2024. 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 operations of TPACT, it is not intended and does not represent the financial position, changes in net assets, functional expenses or cash flows of TPACT. De Minimis Rate Used: N Rate Explanation: Tulsa Performing Arts Center Trust has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.

Title: Note 3 – Indirect Cost Rate Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Tulsa Performing Arts Center Trust (TPACT) under programs of the federal government for the year ended June 30, 2024. 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 operations of TPACT, it is not intended and does not represent the financial position, changes in net assets, functional expenses or cash flows of TPACT. De Minimis Rate Used: N Rate Explanation: Tulsa Performing Arts Center Trust has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Tulsa Performing Arts Center Trust has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001

Finding: Item 2024-001 – Reporting: Delinquent Reports Federal Program – Coronavirus State and Local Fiscal Recovery Funds - American Rescue Plan Act (ARPA) Assistance Listing Number – 21.027 Criteria: The grant agreements for ARPA require the statistical data report to be filed by the fifteenth day after completion of the month being reported and include specified data as outlined per the contract. Condition/context: Two of the four monthly ARPA statistical data reports we tested were filed after the due date. Additionally, several reports contained inaccurate data. The data was subsequently corrected. Cause: Tulsa Performing Arts Center Trust did not have adequate processes in place over the nonfinancial contract requirements of the grant. Effect: Noncompliance with grants could result in the loss of grant funds or additional federal oversight. Questioned cost: Not applicable. Recommendation: We recommend Tulsa Performing Arts Center Trust establish an internal control to identify required reporting for new grants during transition periods and a process to verify the accuracy of submitted data. View of responsible officials: Management's response is reported in "Corrective Action Plan" at the end of this report.

Finding 2024-001

Finding: Item 2024-001 – Reporting: Delinquent Reports Federal Program – Coronavirus State and Local Fiscal Recovery Funds - American Rescue Plan Act (ARPA) Assistance Listing Number – 21.027 Criteria: The grant agreements for ARPA require the statistical data report to be filed by the fifteenth day after completion of the month being reported and include specified data as outlined per the contract. Condition/context: Two of the four monthly ARPA statistical data reports we tested were filed after the due date. Additionally, several reports contained inaccurate data. The data was subsequently corrected. Cause: Tulsa Performing Arts Center Trust did not have adequate processes in place over the nonfinancial contract requirements of the grant. Effect: Noncompliance with grants could result in the loss of grant funds or additional federal oversight. Questioned cost: Not applicable. Recommendation: We recommend Tulsa Performing Arts Center Trust establish an internal control to identify required reporting for new grants during transition periods and a process to verify the accuracy of submitted data. View of responsible officials: Management's response is reported in "Corrective Action Plan" at the end of this report.

Finding 2024-001

Finding: Item 2024-001 – Reporting: Delinquent Reports Federal Program – Coronavirus State and Local Fiscal Recovery Funds - American Rescue Plan Act (ARPA) Assistance Listing Number – 21.027 Criteria: The grant agreements for ARPA require the statistical data report to be filed by the fifteenth day after completion of the month being reported and include specified data as outlined per the contract. Condition/context: Two of the four monthly ARPA statistical data reports we tested were filed after the due date. Additionally, several reports contained inaccurate data. The data was subsequently corrected. Cause: Tulsa Performing Arts Center Trust did not have adequate processes in place over the nonfinancial contract requirements of the grant. Effect: Noncompliance with grants could result in the loss of grant funds or additional federal oversight. Questioned cost: Not applicable. Recommendation: We recommend Tulsa Performing Arts Center Trust establish an internal control to identify required reporting for new grants during transition periods and a process to verify the accuracy of submitted data. View of responsible officials: Management's response is reported in "Corrective Action Plan" at the end of this report.

Finding 2024-001

Finding: Item 2024-001 – Reporting: Delinquent Reports Federal Program – Coronavirus State and Local Fiscal Recovery Funds - American Rescue Plan Act (ARPA) Assistance Listing Number – 21.027 Criteria: The grant agreements for ARPA require the statistical data report to be filed by the fifteenth day after completion of the month being reported and include specified data as outlined per the contract. Condition/context: Two of the four monthly ARPA statistical data reports we tested were filed after the due date. Additionally, several reports contained inaccurate data. The data was subsequently corrected. Cause: Tulsa Performing Arts Center Trust did not have adequate processes in place over the nonfinancial contract requirements of the grant. Effect: Noncompliance with grants could result in the loss of grant funds or additional federal oversight. Questioned cost: Not applicable. Recommendation: We recommend Tulsa Performing Arts Center Trust establish an internal control to identify required reporting for new grants during transition periods and a process to verify the accuracy of submitted data. View of responsible officials: Management's response is reported in "Corrective Action Plan" at the end of this report.