FAC Explorer

Audit 333203

FY End
2024-06-30
Total Expended
$878,457
Findings
2
Programs
1
Organization: Central Wyoming Regional Water System Joint Powers Board (WY)
Year: 2024 Accepted: 2024-12-17
Auditor: Ketel Thorstenson LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
515159 2024-001 Significant Deficiency - I
1091601 2024-001 Significant Deficiency - I

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $878,457 Yes 1

Contacts

Name Title Type
QYGKWYC617K9 Nicholas Gassman Auditee
3072357521 Jeff Yennie Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation and Summary of Significant Accounting Policies Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the System 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 System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System. 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: The System 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 (the Schedule) includes the federal award activity of the System 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 System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System. 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.
Title: Indirect Cost Rate Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the System 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 System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System. 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: The System has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The System has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Finding No. 2024-001: Suspension and Debarment Federal Program Affected: Coronavirus State and Local Fiscal Recovery Funds AL #21.027 Compliance Requirement: Procurement, Suspension, and Debarment Questioned Costs: None Condition and Cause: A search for suspended and debarred vendors was not performed prior to awarding a construction contract with federal funding. The construction contractor was not suspended or debarred. Criteria and Effect: Not performing a search could result in the System contracting with a vendor that is suspended or debarred from doing business with the federal government, resulting in noncompliance. Repeat Finding from Prior Year: No Recommendation: Management should adhere to their written procurement policies and verify all vendors are not suspended or disbarred by searching SAM.gov, or other methods. Additionally, documentation should be retained that the search was performed. Response/Correction Action Plan: Management agrees with the above finding. See Corrective Action Plan.
Finding 2024-001
Finding No. 2024-001: Suspension and Debarment Federal Program Affected: Coronavirus State and Local Fiscal Recovery Funds AL #21.027 Compliance Requirement: Procurement, Suspension, and Debarment Questioned Costs: None Condition and Cause: A search for suspended and debarred vendors was not performed prior to awarding a construction contract with federal funding. The construction contractor was not suspended or debarred. Criteria and Effect: Not performing a search could result in the System contracting with a vendor that is suspended or debarred from doing business with the federal government, resulting in noncompliance. Repeat Finding from Prior Year: No Recommendation: Management should adhere to their written procurement policies and verify all vendors are not suspended or disbarred by searching SAM.gov, or other methods. Additionally, documentation should be retained that the search was performed. Response/Correction Action Plan: Management agrees with the above finding. See Corrective Action Plan.