FAC Explorer

Audit 347899

FY End
2024-09-30
Total Expended
$957,710
Findings
4
Programs
1
Organization: Yankton Thrive, Inc. (SD)
Year: 2024 Accepted: 2025-03-25
Auditor: Williams & Company PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
529871 2024-004 Material Weakness - B
529872 2024-003 - - B
1106313 2024-004 Material Weakness - B
1106314 2024-003 - - B

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $957,710 Yes 2

Contacts

Name Title Type
P8SNPNY3M5J3 Brian Steward Auditee
6056653636 Jolynn Hindt 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 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: No indirect costs are allocated, therefore, no indirect cost rate is needed. The accompanying schedule of expenditures of federal awards (The "Schedule") includes the federal award activity of Yankton Thrive, Inc., and is presented on the accrual basis of accounting. 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 Eventide Senior Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Yankton Thrive, Inc.
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 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: No indirect costs are allocated, therefore, no indirect cost rate is needed. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect 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 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: No indirect costs are allocated, therefore, no indirect cost rate is needed. Yankton Thrive, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2024-004
U.S. Department of Treasury Assistance Listing Number 21.027 – Coronavirus State and Local Fiscal Recovery Fund Pass-through Agency Number: N/A Award No.: Year ended September 30, 2024 2024-004 Criteria – Allowable expenditures should be recorded in the proper period. Condition - During our review of internal control procedures, we identified a material journal entry that was necessary to record expenditures in the proper period. The adjustment impacted amounts related to the Coronavirus State and Local Fiscal Recovery fund. Cause – Review procedures did not identify expenses that should have been recorded as a payable as of September 30, 2024. Effect – As a result, the amount was inadvertently left of the SEFA. Recommendation - The organization should strengthen its review process for grant-related payables and ensure that expenditures are recorded in the proper period and properly included on the SEFA. Client’s Response – We have updated the SEFA to include these amounts and will continue to review our processes and procedures to ensure all expenditures are included on the SEFA in the future.
Finding 2024-003
U.S. Department of Treasury Assistance Listing Number 21.027 – Coronavirus State and Local Fiscal Recovery Fund Pass-through Agency Number: N/A Award No.: Year ended September 30, 2024 2024-003 Criteria – All grant expenditures incurred prior to year end should be included on the Schedule of Expenditures Federal Awards (SEFA). Condition – During our review of grant expenditures, we identified expenditures that were not recorded in the proper period, and therefore not included on the SEFA. Cause – Review procedures did not identify the expenditures which should have been included on the SEFA. Effect – As a result, the amount was inadvertently left off the SEFA. Recommendation - The Organization should implement procedures to review payable ensure that all expenditures are included in the SEFA. Client’s Response - We have recorded the journal entry to include the expenses in the proper period and adjusted the financial statements accordingly. These amounts were also updated to be included on the SEFA. We will also review procedures to record expenses in the proper period.
Finding 2024-004
U.S. Department of Treasury Assistance Listing Number 21.027 – Coronavirus State and Local Fiscal Recovery Fund Pass-through Agency Number: N/A Award No.: Year ended September 30, 2024 2024-004 Criteria – Allowable expenditures should be recorded in the proper period. Condition - During our review of internal control procedures, we identified a material journal entry that was necessary to record expenditures in the proper period. The adjustment impacted amounts related to the Coronavirus State and Local Fiscal Recovery fund. Cause – Review procedures did not identify expenses that should have been recorded as a payable as of September 30, 2024. Effect – As a result, the amount was inadvertently left of the SEFA. Recommendation - The organization should strengthen its review process for grant-related payables and ensure that expenditures are recorded in the proper period and properly included on the SEFA. Client’s Response – We have updated the SEFA to include these amounts and will continue to review our processes and procedures to ensure all expenditures are included on the SEFA in the future.
Finding 2024-003
U.S. Department of Treasury Assistance Listing Number 21.027 – Coronavirus State and Local Fiscal Recovery Fund Pass-through Agency Number: N/A Award No.: Year ended September 30, 2024 2024-003 Criteria – All grant expenditures incurred prior to year end should be included on the Schedule of Expenditures Federal Awards (SEFA). Condition – During our review of grant expenditures, we identified expenditures that were not recorded in the proper period, and therefore not included on the SEFA. Cause – Review procedures did not identify the expenditures which should have been included on the SEFA. Effect – As a result, the amount was inadvertently left off the SEFA. Recommendation - The Organization should implement procedures to review payable ensure that all expenditures are included in the SEFA. Client’s Response - We have recorded the journal entry to include the expenses in the proper period and adjusted the financial statements accordingly. These amounts were also updated to be included on the SEFA. We will also review procedures to record expenses in the proper period.