FAC Explorer

Audit 325722

FY End
2022-12-31
Total Expended
$6.25M
Findings
4
Programs
8
Organization: Municipality of Madison (SD)
Year: 2022 Accepted: 2024-10-23
Auditor: Schoenfish & CO INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
503554 2022-001 Material Weakness - IL
503555 2022-001 Material Weakness - BHN
1079996 2022-001 Material Weakness - IL
1079997 2022-001 Material Weakness - BHN

Programs

ALN Program Spent Major Findings
10.760 Water and Waste Disposal Systems for Rural Communities $4.59M - 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.01M Yes 1
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $423,608 Yes 1
21.019 Coronavirus Relief Fund $46,354 - 0
97.039 Hazard Mitigation Grant $32,485 - 0
20.600 State and Community Highway Safety $5,074 - 0
20.106 Airport Improvement Program, Covid-19 Airports Programs, and Infrastructure Investment and Jobs Act Programs $1,222 - 0
39.003 Donation of Federal Surplus Personal Property $45 - 0

Contacts

Name Title Type
MTC8CUH8MNQ6 Amy Sad Auditee
6052567501 Randy Schoenfish Auditor
No contacts on file

Notes to SEFA

Title: Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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 as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Municipality has not elected to use the 10-percent deminimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Municipality has not elected to use the 10-percent deminimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on the Schedule are reported on the modified 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 as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Municipality has not elected to use the 10-percent deminimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2022-001
The Municipality lacks adequate internal controls over federal awards, as evidenced by (1) improper records retention practices, (2) an absence of documented policies and procedures for retaining financial and programmatic records, and (3) the lack of a formal, written procurement policy to ensure compliance with federal regulations. Our review found instances where documentation supporting expenditures and program activities were missing or incomplete, indicating a lack of adherence to federal records retention requirements. This is the first audit in which a similar audit comment has occurred.
Finding 2022-001
The Municipality lacks adequate internal controls over federal awards, as evidenced by (1) improper records retention practices, (2) an absence of documented policies and procedures for retaining financial and programmatic records, and (3) the lack of a formal, written procurement policy to ensure compliance with federal regulations. Our review found instances where documentation supporting expenditures and program activities were missing or incomplete, indicating a lack of adherence to federal records retention requirements. This is the first audit in which a similar audit comment has occurred.
Finding 2022-001
The Municipality lacks adequate internal controls over federal awards, as evidenced by (1) improper records retention practices, (2) an absence of documented policies and procedures for retaining financial and programmatic records, and (3) the lack of a formal, written procurement policy to ensure compliance with federal regulations. Our review found instances where documentation supporting expenditures and program activities were missing or incomplete, indicating a lack of adherence to federal records retention requirements. This is the first audit in which a similar audit comment has occurred.
Finding 2022-001
The Municipality lacks adequate internal controls over federal awards, as evidenced by (1) improper records retention practices, (2) an absence of documented policies and procedures for retaining financial and programmatic records, and (3) the lack of a formal, written procurement policy to ensure compliance with federal regulations. Our review found instances where documentation supporting expenditures and program activities were missing or incomplete, indicating a lack of adherence to federal records retention requirements. This is the first audit in which a similar audit comment has occurred.