FAC Explorer

Audit 328982

FY End
2023-12-31
Total Expended
$767,172
Findings
2
Programs
3
Organization: Life Management, Inc. (NJ)
Year: 2023 Accepted: 2024-11-19
Auditor: Pkf O'Connor Davies LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
508374 2023-001 Significant Deficiency - L
1084816 2023-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
15.929 Save America's Treasures $500,000 Yes 1
93.052 National Family Caregiver Support, Title Iii, Part E $86,119 - 0
93.044 Special Programs for the Aging, Title Iii, Part B, Grants for Supportive Services and Senior Centers $31,053 - 0

Contacts

Name Title Type
PK5WTNRGE8D6 Barbara Havlik Auditee
9736550300 Karen Taylor-Burke 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. De Minimis Rate Used: N Rate Explanation: LMI has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the “Federal Schedule”) includes the federal award activity of Life Management, Inc. (“LMI”) under programs of the federal government for the year ended December 31, 2023. The information in the Federal Schedule is presented in accordance with 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 Schedules present only a selected portion of the operations of LMI, they are not intended to and do not present the financial position, changes in net assets or cash flows of LMI.

Finding Details

Finding 2023-001
Condition: Based on our audit procedures, we noted that LMI’s internal control process for reviewing and submitting the semi-annual financial reports due under the grant agreement was not working effectively. Two of the semi-annual financial reports submitted during the year under audit were not properly reviewed by the Executive Director and were submitted later than the due date. Cause: The ineffective report review process was a result of LMI not having set controls as it relates to the federal award. Repeat Finding: No Recommendation: We recommend that LMI implements certain internal control processes to ensure that reporting related to federal awards are reviewed and submitted in compliance with grant agreements. Views of Responsible Officials: See Corrective Action Plan.
Finding 2023-001
Condition: Based on our audit procedures, we noted that LMI’s internal control process for reviewing and submitting the semi-annual financial reports due under the grant agreement was not working effectively. Two of the semi-annual financial reports submitted during the year under audit were not properly reviewed by the Executive Director and were submitted later than the due date. Cause: The ineffective report review process was a result of LMI not having set controls as it relates to the federal award. Repeat Finding: No Recommendation: We recommend that LMI implements certain internal control processes to ensure that reporting related to federal awards are reviewed and submitted in compliance with grant agreements. Views of Responsible Officials: See Corrective Action Plan.