FAC Explorer

Audit 325993

FY End
2023-12-31
Total Expended
$1.70M
Findings
2
Programs
2
Organization: Rio Grande Headwaters Land Trust (CO)
Year: 2023 Accepted: 2024-10-25
Auditor: Wall Smith Bateman INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
503750 2023-001 Material Weakness - P
1080192 2023-001 Material Weakness - P

Programs

ALN Program Spent Major Findings
10.931 Agricultural Conservation Easement Program $1.10M Yes 1
15.623 North American Wetlands Conservation Fund $591,283 - 0

Contacts

Name Title Type
HGS9YTM8WMK5 Laura Cusick Auditee
7196570800 Kimberley Temple 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 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. Rio Grande Headwaters Land Trust did not elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance for the year ended December 31, 2023. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Rio Grande Headwaters Land Trust under programs of the federal government for the year ended December 31, 2023. 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 Rio Grande Headwaters Land Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of Rio Grande Headwaters Land Trust.

Finding Details

Finding 2023-001
Finding 2023-001: Internal Control over Compliance Type of finding: Internal Control (material weakness) and Compliance (noncompliance) Criteria: The Report submission portion of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements (Subpart F: 2 CFR 200.512) requires that an auditee to submit the Single Audit reporting package and data collection form earlier of nine months after the end of the audit period or 30 calendar days after the Organization received the Auditors’ report. Condition: The Organization did not submit the Single Audit reporting package to the Federal Audit Clearinghouse and data collection form by the due date of September 30, 2024. Cause: The Organization does not have a system of internal control in place to perform year-end financial close and reporting in a timely manner. Effect: The Organization is not in compliance with Uniform Administrative Requirements, Cost Principles, and Audit Requirements (Subpart F: 2 CFR 200.512). Recommendation: The Organization should strengthen its internal controls over year-end financial close and reporting with adopted policies and procedures to ensure compliance with the Report submission portion of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements section.
Finding 2023-001
Finding 2023-001: Internal Control over Compliance Type of finding: Internal Control (material weakness) and Compliance (noncompliance) Criteria: The Report submission portion of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements (Subpart F: 2 CFR 200.512) requires that an auditee to submit the Single Audit reporting package and data collection form earlier of nine months after the end of the audit period or 30 calendar days after the Organization received the Auditors’ report. Condition: The Organization did not submit the Single Audit reporting package to the Federal Audit Clearinghouse and data collection form by the due date of September 30, 2024. Cause: The Organization does not have a system of internal control in place to perform year-end financial close and reporting in a timely manner. Effect: The Organization is not in compliance with Uniform Administrative Requirements, Cost Principles, and Audit Requirements (Subpart F: 2 CFR 200.512). Recommendation: The Organization should strengthen its internal controls over year-end financial close and reporting with adopted policies and procedures to ensure compliance with the Report submission portion of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements section.