FAC Explorer

Audit 330367

FY End
2024-06-30
Total Expended
$1.66M
Findings
2
Programs
5
Organization: City of Oelwein (IA)
Year: 2024 Accepted: 2024-12-02
Auditor: Tp Anderson & Company PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
512542 2024-003 Significant Deficiency - ABGHILM
1088984 2024-003 Significant Deficiency - ABGHILM

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $815,286 Yes 1
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $646,188 - 0
97.047 Bric: Building Resilient Infrastructure and Communities $97,463 - 0
20.106 Airport Improvement Program, Covid-19 Airports Programs, and Infrastructure Investment and Jobs Act Programs $53,618 - 0
97.083 Staffing for Adequate Fire and Emergency Response (safer) $44,998 - 0

Contacts

Name Title Type
TQK3JCFSXQQ1 Dylan Mulfinger Auditee
3192835440 Tim McCartan Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported in the Schedule are reported on the basis of cash receipts and disbursements, which is a basis of accounting other than U.S. generally accepted accounting principles. 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: The City has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of the City of Oelwein 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 the operations of the City, it is not intended to and does not present the financial position, changes in financial position or cash flows of the City.
Title: Sub-recipients Accounting Policies: Expenditures reported in the Schedule are reported on the basis of cash receipts and disbursements, which is a basis of accounting other than U.S. generally accepted accounting principles. 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: The City has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The City of Oelwein did not pass through any federal funds to sub-recipients for the year ended June 30, 2024.

Finding Details

Finding 2024-003
Project and Expenditure Report Criteria – The Uniform Guidance, Part 200.303, requires the auditee establish and maintain effective internal control over the federal award which provides reasonable assurance the auditee is managing the federal award in compliance with federal statutes, regulations, and the terms of the federal award. The City is required to submit an annual project and expenditures report. The Compliance and Reporting Guidance, State and Local Fiscal Recovery Funds, requires the annual report be submitted to the U.S. Treasury by April 30, each year. Condition – The required report was submitted on time but the expended amount was incorrect. Cause – City procedures have not been established to ensure the report is submitted with the correct amount. Effect – The lack of established policies and procedures resulted in the incorrect amount submitted on the required report. Recommendation – The City should establish a policies and procedures to ensure reports are submitted timely with the correct amount in accordance with the Compliance and Reporting Guidance. Response and Corrective Action Planned – A policy and procedure will be established to ensure the annual Project and Expenditure Report is submitted with the correct amount prior to the deadline. Conclusion – Response accepted.
Finding 2024-003
Project and Expenditure Report Criteria – The Uniform Guidance, Part 200.303, requires the auditee establish and maintain effective internal control over the federal award which provides reasonable assurance the auditee is managing the federal award in compliance with federal statutes, regulations, and the terms of the federal award. The City is required to submit an annual project and expenditures report. The Compliance and Reporting Guidance, State and Local Fiscal Recovery Funds, requires the annual report be submitted to the U.S. Treasury by April 30, each year. Condition – The required report was submitted on time but the expended amount was incorrect. Cause – City procedures have not been established to ensure the report is submitted with the correct amount. Effect – The lack of established policies and procedures resulted in the incorrect amount submitted on the required report. Recommendation – The City should establish a policies and procedures to ensure reports are submitted timely with the correct amount in accordance with the Compliance and Reporting Guidance. Response and Corrective Action Planned – A policy and procedure will be established to ensure the annual Project and Expenditure Report is submitted with the correct amount prior to the deadline. Conclusion – Response accepted.