FAC Explorer

Audit 348822

FY End
2024-12-31
Total Expended
$792,000
Findings
4
Programs
2
Organization: Jefferson County Industrial Development Agency (NY)
Year: 2024 Accepted: 2025-03-27
Auditor: Bowers & Company CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
537540 2024-002 Significant Deficiency - M
537541 2024-003 - - M
1113982 2024-002 Significant Deficiency - M
1113983 2024-003 - - M

Programs

ALN Program Spent Major Findings
90.601 Northern Border Regional Development $500,000 Yes 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $292,000 Yes 2

Contacts

Name Title Type
WWJDEF3RNWT3 Marshall Weir Auditee
3157825865 Laurie Podvin, CPA 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: Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source of the data presented. The Agency has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Jefferson County Industrial Development Agency under programs of the federal government for the year ended December 31, 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 Jefferson County Industrial Development Agency, it is not intended to and does not present the financial position, changes in net position, or cash flows of Jefferson County Industrial Development Agency.

Finding Details

Finding 2024-002
U.S. DEPARTMENT OF TREASURY , SIGNIFICANT DEFICIENCY 2024-002 COVID-19 Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Identification of Federal Subaward Condition: The Agency did not identify a subrecipient of the Coronavirus State and Local Fiscal Recovery Funds and applicable requirements at the time a subaward was made to another Organization. Criteria: Internal controls should be in place to ensure management identifies any subrecipients of Federal grants and has processes in place to notify and monitor the subrecipient. Cause: There were no procedures in place to determine if any grants were subawards to subrecipients. Effect: Because the terms and conditions of the subaward were not identified, the Agency may not have been able to comply with Federal statutes, regulations, and the terms and conditions of the Federal award. Recommendation: Procedures should be implemented to evaluate grant activity and contracts to make a determination of subrecipients or beneficiaries on all grant awards.
Finding 2024-003
INSTANCE OF NONCOMPLIANCE 2024-003 COVID-19 Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Subrecipient Monitoring Condition: The Agency did not identify the subaward of the Coronavirus State and Local Fiscal Recovery Funds and applicable requirements at the time the subaward was made. Because of the failure to identify the subaward, the Agency was not able to comply with monitoring subrecipient activities to provide reasonable assurance that the subrecipient administered the subaward in compliance with the terms and conditions of the subaward in accordance with the Uniform Guidance. Criteria: Federal administration requires a pass-through entity (PTE) to identify the federal award and requirements to a subrecipient and to then monitor subrecipient activities. Cause: Since the Agency did not identify the subaward at time of contract, they did not complete subrecipient compliance requirements as required under the Uniform Guidance throughout the grant period. Effect: The Agency did not notify the subaward as identified in finding 2024-002, and therefore, was not following subrecipient monitoring requirements under the Uniform Guidance and the costs could potentially be disallowed. Recommendation: We recommend that any subrecipients are identified at time contracts are agreed upon and that the Agency ensures proper subrecipient notification and monitoring throughout the grant period for compliance with the Uniform Guidance.
Finding 2024-002
U.S. DEPARTMENT OF TREASURY , SIGNIFICANT DEFICIENCY 2024-002 COVID-19 Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Identification of Federal Subaward Condition: The Agency did not identify a subrecipient of the Coronavirus State and Local Fiscal Recovery Funds and applicable requirements at the time a subaward was made to another Organization. Criteria: Internal controls should be in place to ensure management identifies any subrecipients of Federal grants and has processes in place to notify and monitor the subrecipient. Cause: There were no procedures in place to determine if any grants were subawards to subrecipients. Effect: Because the terms and conditions of the subaward were not identified, the Agency may not have been able to comply with Federal statutes, regulations, and the terms and conditions of the Federal award. Recommendation: Procedures should be implemented to evaluate grant activity and contracts to make a determination of subrecipients or beneficiaries on all grant awards.
Finding 2024-003
INSTANCE OF NONCOMPLIANCE 2024-003 COVID-19 Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Subrecipient Monitoring Condition: The Agency did not identify the subaward of the Coronavirus State and Local Fiscal Recovery Funds and applicable requirements at the time the subaward was made. Because of the failure to identify the subaward, the Agency was not able to comply with monitoring subrecipient activities to provide reasonable assurance that the subrecipient administered the subaward in compliance with the terms and conditions of the subaward in accordance with the Uniform Guidance. Criteria: Federal administration requires a pass-through entity (PTE) to identify the federal award and requirements to a subrecipient and to then monitor subrecipient activities. Cause: Since the Agency did not identify the subaward at time of contract, they did not complete subrecipient compliance requirements as required under the Uniform Guidance throughout the grant period. Effect: The Agency did not notify the subaward as identified in finding 2024-002, and therefore, was not following subrecipient monitoring requirements under the Uniform Guidance and the costs could potentially be disallowed. Recommendation: We recommend that any subrecipients are identified at time contracts are agreed upon and that the Agency ensures proper subrecipient notification and monitoring throughout the grant period for compliance with the Uniform Guidance.