FAC Explorer

Audit 343248

FY End
2024-02-29
Total Expended
$1.15M
Findings
4
Programs
4
Organization: Sagebrush Steppe Land Trust (ID)
Year: 2024 Accepted: 2025-02-20
Auditor: Wipfli LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
524088 2024-001 Material Weakness - L
524089 2024-002 Material Weakness - A
1100530 2024-001 Material Weakness - L
1100531 2024-002 Material Weakness - A

Programs

ALN Program Spent Major Findings
10.931 Agricultural Conservation Easement Program $448,125 Yes 1
15.660 Endangered Species - Candidate Conservation Action Funds $41,258 - 0
10.665 Schools and Roads - Grants to States $30,000 - 0
15.631 Partners for Fish and Wildlife $27,136 - 0

Contacts

Name Title Type
LYKCWNH34F19 Matt Lucia Auditee
2082406045 Fred Goodworth Auditor
No contacts on file

Notes to SEFA

Title: General Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principle contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: Sagebrush Steppe Regional Land Trust has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Sagebrust Steppe Regional Land Trust under programs of the federal government for the year ended February 29, 2024. The information in this schedule is presented in accordance with requirements ofthe 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 Sagebrush Steppe Regional Land Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of Sagebrush Steppe Regional Land Trust.
Title: Sub-Recipients Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principle contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: Sagebrush Steppe Regional Land Trust has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Sagebrush Steppe Regional Land Trust does not have any sub-recipients of federal awards.

Finding Details

Finding 2024-001
The Organization received grants for the purchase of easements and a long-term pledge receivable. The grant funds were paid directly to the title company on behalf of the Organization and were not recorded by the Organization as part of their financial records. The pledge receivable was being recorded on the cash basis.
Finding 2024-002
The Organization occasionally receives funding from federal and state agencies to facilitate their purpose and programs. Most of this funding is below the threshold to require a Uniform Guidance audit. In 2024, federal agencies provided $1.05 million in funding to facilitate the purpose of a conservation easements. A portion of these funds were not initially recorded, and no original schedule of federal expenditures was created with this and other federal funding sources.
Finding 2024-001
The Organization received grants for the purchase of easements and a long-term pledge receivable. The grant funds were paid directly to the title company on behalf of the Organization and were not recorded by the Organization as part of their financial records. The pledge receivable was being recorded on the cash basis.
Finding 2024-002
The Organization occasionally receives funding from federal and state agencies to facilitate their purpose and programs. Most of this funding is below the threshold to require a Uniform Guidance audit. In 2024, federal agencies provided $1.05 million in funding to facilitate the purpose of a conservation easements. A portion of these funds were not initially recorded, and no original schedule of federal expenditures was created with this and other federal funding sources.