FAC Explorer

Audit 330998

FY End
2024-06-30
Total Expended
$1.06M
Findings
2
Programs
5
Organization: Lower Platte South Natural Resources District (NE)
Year: 2024 Accepted: 2024-12-05
Auditor: Hbe LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
513077 2024-001 Material Weakness Yes A
1089519 2024-001 Material Weakness Yes A

Programs

ALN Program Spent Major Findings
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $776,724 Yes 1
66.460 Nonpoint Source Implementation Grants $92,935 - 0
10.904 Watershed Protection and Flood Prevention $91,181 - 0
10.902 Soil and Water Conservation $23,119 - 0
97.047 Bric: Building Resilient Infrastructure and Communities $18,920 - 0

Contacts

Name Title Type
Z1VNZLLHXFV4 Mike Sousek Auditee
4024762729 Kiley Wiechman Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Lower Platte South Natural Resources District (the District) and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The District did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414. The accompanying schedule of federal awards includes the federal grant activity of Lower Platte South Natural Resources District (the District) and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements.
Title: Subrecipients Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Lower Platte South Natural Resources District (the District) and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The District did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414. The District provided no federal awards to subrecipients.
Title: Indirect Costs Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Lower Platte South Natural Resources District (the District) and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The District did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414. The District did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.

Finding Details

Finding 2024-001
Criteria: SAS 115 requires the communication, in writing, to management and those charged with governance, of material weaknesses identified in an audit. Condition: The District does not have an internal control system designed to provide for the preparation of the financial statements and the schedule of expenditures of federal awards being audited. Cause: Accounting personnel of the District do not have the expertise to prepare financial statements, including note disclosures and the schedule of expenditures of federal awards, in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Effect or protentional effect: The control deficiency is a material weakness that results in a reasonable possibility that a material misstatement of the financial statements and schedule of expenditures of federal awards will not be prevented, or detected and corrected, on a timely basis. Recommendation: The District should continue to rely on the board of director’s review functions to mitigate risks of potential misstatements. Views of responsible officials: The District will continue to rely on its system of oversight provided by the board of directors in reviewing the financial statements, including note disclosures and the schedule of expenditures of federal awards, of the District. Repeat Finding 2023-001
Finding 2024-001
Criteria: SAS 115 requires the communication, in writing, to management and those charged with governance, of material weaknesses identified in an audit. Condition: The District does not have an internal control system designed to provide for the preparation of the financial statements and the schedule of expenditures of federal awards being audited. Cause: Accounting personnel of the District do not have the expertise to prepare financial statements, including note disclosures and the schedule of expenditures of federal awards, in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Effect or protentional effect: The control deficiency is a material weakness that results in a reasonable possibility that a material misstatement of the financial statements and schedule of expenditures of federal awards will not be prevented, or detected and corrected, on a timely basis. Recommendation: The District should continue to rely on the board of director’s review functions to mitigate risks of potential misstatements. Views of responsible officials: The District will continue to rely on its system of oversight provided by the board of directors in reviewing the financial statements, including note disclosures and the schedule of expenditures of federal awards, of the District. Repeat Finding 2023-001