FAC Explorer

Audit 343499

FY End
2024-06-30
Total Expended
$1.32M
Findings
4
Programs
1
Organization: Close Up Foundation (VA)
Year: 2024 Accepted: 2025-02-24
Auditor: Gelman Rosenberg & Freedman

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
524287 2024-002 Significant Deficiency - L
524288 2024-002 Significant Deficiency - L
1100729 2024-002 Significant Deficiency - L
1100730 2024-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
15.875 Economic, Social, and Political Development of the Territories $368,662 Yes 1

Contacts

Name Title Type
KSJ2KNS7TAC4 Eric Adydan Auditee
7037063443 Jennifer McCahill Auditor
No contacts on file

Notes to SEFA

Title: Note 1. Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Foundation 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 (the Schedule) includes the Federal grant activity of the Foundation under programs of the Federal Government for the year ended June 30, 2024. The information in the 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 Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation.
Title: Note 2. Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Foundation 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Foundation has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-002
Finding 2024-002 Untimely Filing of Performance Report (Significant Deficiency) Federal Programs: ALN 15.875 Criteria or Specific Requirement: In accordance with Title 2 CFR 200 Section 200.329 “Monitoring and reporting program performance” recipients of Federal funds to submit a final performance report to a pass-through entity no later than 90 calendar days after the conclusion of the period of performance. Condition: The final performance report for the reporting period ended July 21, 2024 has not yet been submitted in accordance with the grant agreement. Cause: The grant closed prior to the end of the original reporting period and the Foundation was unaware the final report was required to be filed.Effect or Potential Effect: Failure to submit reports timely results in noncompliance with Federal and grant grant provisions and may result in delay of funding. Questioned Costs: None. The late report is programmatic and did not have financial implications. Context: One of three program reports sampled was not submitted. The late submission resulted from human error and oversight. We consider our sample to be representative of the population. Identification as a Repeat Finding: N/A Recommendation: We recommend that the Foundation strengthen its internal controls over performance reporting to ensure compliance with the Federal regulations.
Finding 2024-002
Finding 2024-002 Untimely Filing of Performance Report (Significant Deficiency) Federal Programs: ALN 15.875 Criteria or Specific Requirement: In accordance with Title 2 CFR 200 Section 200.329 “Monitoring and reporting program performance” recipients of Federal funds to submit a final performance report to a pass-through entity no later than 90 calendar days after the conclusion of the period of performance. Condition: The final performance report for the reporting period ended July 21, 2024 has not yet been submitted in accordance with the grant agreement. Cause: The grant closed prior to the end of the original reporting period and the Foundation was unaware the final report was required to be filed.Effect or Potential Effect: Failure to submit reports timely results in noncompliance with Federal and grant grant provisions and may result in delay of funding. Questioned Costs: None. The late report is programmatic and did not have financial implications. Context: One of three program reports sampled was not submitted. The late submission resulted from human error and oversight. We consider our sample to be representative of the population. Identification as a Repeat Finding: N/A Recommendation: We recommend that the Foundation strengthen its internal controls over performance reporting to ensure compliance with the Federal regulations.
Finding 2024-002
Finding 2024-002 Untimely Filing of Performance Report (Significant Deficiency) Federal Programs: ALN 15.875 Criteria or Specific Requirement: In accordance with Title 2 CFR 200 Section 200.329 “Monitoring and reporting program performance” recipients of Federal funds to submit a final performance report to a pass-through entity no later than 90 calendar days after the conclusion of the period of performance. Condition: The final performance report for the reporting period ended July 21, 2024 has not yet been submitted in accordance with the grant agreement. Cause: The grant closed prior to the end of the original reporting period and the Foundation was unaware the final report was required to be filed.Effect or Potential Effect: Failure to submit reports timely results in noncompliance with Federal and grant grant provisions and may result in delay of funding. Questioned Costs: None. The late report is programmatic and did not have financial implications. Context: One of three program reports sampled was not submitted. The late submission resulted from human error and oversight. We consider our sample to be representative of the population. Identification as a Repeat Finding: N/A Recommendation: We recommend that the Foundation strengthen its internal controls over performance reporting to ensure compliance with the Federal regulations.
Finding 2024-002
Finding 2024-002 Untimely Filing of Performance Report (Significant Deficiency) Federal Programs: ALN 15.875 Criteria or Specific Requirement: In accordance with Title 2 CFR 200 Section 200.329 “Monitoring and reporting program performance” recipients of Federal funds to submit a final performance report to a pass-through entity no later than 90 calendar days after the conclusion of the period of performance. Condition: The final performance report for the reporting period ended July 21, 2024 has not yet been submitted in accordance with the grant agreement. Cause: The grant closed prior to the end of the original reporting period and the Foundation was unaware the final report was required to be filed.Effect or Potential Effect: Failure to submit reports timely results in noncompliance with Federal and grant grant provisions and may result in delay of funding. Questioned Costs: None. The late report is programmatic and did not have financial implications. Context: One of three program reports sampled was not submitted. The late submission resulted from human error and oversight. We consider our sample to be representative of the population. Identification as a Repeat Finding: N/A Recommendation: We recommend that the Foundation strengthen its internal controls over performance reporting to ensure compliance with the Federal regulations.