FAC Explorer

Audit 341708

FY End
2022-06-30
Total Expended
$4.57M
Findings
4
Programs
2
Organization: The Imagine Institute (WA)
Year: 2022 Accepted: 2025-02-07
Auditor: Schoedel & Schoedel CPAS PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
522421 2022-001 - - L
522422 2022-002 - - L
1098863 2022-001 - - L
1098864 2022-002 - - L

Programs

ALN Program Spent Major Findings
93.575 Child Care and Development Block Grant $1.30M - 0
93.434 Every Student Succeeds Act/preschool Development Grants $345,170 - 0

Contacts

Name Title Type
QDEVRSF35RS5 Travis Denevers Auditee
2064925249 Darcy Skjothaug 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: Imagine Institute has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal award activity of The Imagine Institute under programs of the federal government for the year ended June 30, 2022. 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 of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of The Imagine Institute, it is not intended to and does not present the financial position, change in net assets, or cash flows of The Imagine Institute.
Title: Summary of Significant Accounting Policies 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: Imagine Institute has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 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: Cost Rate 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: Imagine Institute has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Imagine Institute has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2022-001
Child Care Stabilization Grant- Assistance Listing No. 93.575; Grant No. 22-1179; Grant Period: Year Ended June 30, 2022. Criteria and Condition- If the Contractor expends $750,000 or more in federal awards from any and/or all sources in any fiscal year ending after December 26, 2014, the Contractor shall procure and pay for a single or program specific audit for that year. Context- The Organization must obtain a single audit for the year ended. The Organization has not complied with the Program reporting requirement. Cause- The lack of understanding regarding federal awards resulted in failing to meet reporting requirements. Effect- Failed to meet reporting requirements for the Program. This is considered a significant deficiency to the Child Care Stabilization Program. Recommendation- The Organization should obtain an understanding of current Program requirements and keep up to date on any potential changes. Views of Responsible Officials and Planned Corrective Actions- We agree to the finding and have retained the knowledge and understanding of the requirements when expending federal awards in excess of $750,000 to ensure proper reporting.
Finding 2022-002
Administration of Professional Development CBA Activities - Assistance Listing No. 93.575; Grant No. 22-1024-02; Grant Period: Year Ended June 30, 2022. Criteria and Condition- If the Contractor expends $750,000 or more in federal awards from any and/or all sources in any fiscal year ending after December 26, 2014, the Contractor shall procure and pay for a single or program specific audit for that year. Context- The Organization must obtain a single audit for the year ended. The Organization has not complied with the Program reporting requirement. Cause- The lack of understanding regarding federal awards resulted in failing to meet reporting requirements. Effect- Failed to meet reporting requirements for the Program. This is considered a significant deficiency to the Administration of Professional Development CBA Activities Program. Recommendation- The Organization should obtain an understanding of current Program requirements and keep up to date on any potential changes. Views of Responsible Officials and Planned Corrective Actions- We agree to the finding and have retained the knowledge and understanding of the requirements when expending federal awards in excess of $750,000 to ensure proper reporting.
Finding 2022-001
Child Care Stabilization Grant- Assistance Listing No. 93.575; Grant No. 22-1179; Grant Period: Year Ended June 30, 2022. Criteria and Condition- If the Contractor expends $750,000 or more in federal awards from any and/or all sources in any fiscal year ending after December 26, 2014, the Contractor shall procure and pay for a single or program specific audit for that year. Context- The Organization must obtain a single audit for the year ended. The Organization has not complied with the Program reporting requirement. Cause- The lack of understanding regarding federal awards resulted in failing to meet reporting requirements. Effect- Failed to meet reporting requirements for the Program. This is considered a significant deficiency to the Child Care Stabilization Program. Recommendation- The Organization should obtain an understanding of current Program requirements and keep up to date on any potential changes. Views of Responsible Officials and Planned Corrective Actions- We agree to the finding and have retained the knowledge and understanding of the requirements when expending federal awards in excess of $750,000 to ensure proper reporting.
Finding 2022-002
Administration of Professional Development CBA Activities - Assistance Listing No. 93.575; Grant No. 22-1024-02; Grant Period: Year Ended June 30, 2022. Criteria and Condition- If the Contractor expends $750,000 or more in federal awards from any and/or all sources in any fiscal year ending after December 26, 2014, the Contractor shall procure and pay for a single or program specific audit for that year. Context- The Organization must obtain a single audit for the year ended. The Organization has not complied with the Program reporting requirement. Cause- The lack of understanding regarding federal awards resulted in failing to meet reporting requirements. Effect- Failed to meet reporting requirements for the Program. This is considered a significant deficiency to the Administration of Professional Development CBA Activities Program. Recommendation- The Organization should obtain an understanding of current Program requirements and keep up to date on any potential changes. Views of Responsible Officials and Planned Corrective Actions- We agree to the finding and have retained the knowledge and understanding of the requirements when expending federal awards in excess of $750,000 to ensure proper reporting.