FAC Explorer

Audit 349094

FY End
2024-06-30
Total Expended
$1.18M
Findings
2
Programs
1
Organization: Prince George's Financial Services Corporation (DC)
Year: 2024 Accepted: 2025-03-27
Auditor: Sb & Company LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
538062 2024-001 Significant Deficiency - I
1114504 2024-001 Significant Deficiency - I

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.18M Yes 1

Contacts

Name Title Type
MNC1PVHJ3PZ6 Beverly Everson-Jones Auditee
3018836900 Monique Booker Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: All Federal grant operations of Prince George’s Financial Services Corporation (the Organization) are included in the scope of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single Audit was performed in accordance with the provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance testing of all requirements, as described in the Compliance Supplement, was performed for the grant program noted below. The programs on the schedule of expenditures of Federal awards (the Schedule) represent all Federal award programs with fiscal year 2024, cash or non-cash expenditure activities. For single audit testing, we tested to ensure coverage of at least 40% of Federally granted funds. Actual coverage was 100%. The major program tested is listed below. Expenditures reported on the Schedule are recognized following the cost principles contained in the Single Audit, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule includes the Federal award activity of the Organization under programs of the Federal government for the year ended June 30, 2024 and is recorded on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance.

Finding Details

Finding 2024-001
Condition: During our audit, we were unable to obtain documentation to support the Organization entering into contractual agreements with vendors who were not debarred or suspended from doing business with the Federal government. Criteria: Per Uniform Guidance, Non-Federal entities are prohibited from contracting with or making subawards under covered transactions to parties that are suspended or debarred. “Covered transactions” include contracts for goods and services awarded under a non-procurement transaction (e.g., grant or cooperative agreement) that are expected to equal or exceed $25,000 or meet certain other criteria as specified in 2 CFR section 180.220. All non-procurement transactions entered into by a pass-through entity (i.e., subawards to subrecipients), irrespective of award amount, are considered covered transactions, unless they are exempt as provided in 2 CFR section 180.215. Cause: Management did not maintain the documentation to support their review and verification of vendors/contractors to determine they were not suspended, debarred, or otherwise excluded before contracting. Effect: The Organization does not have adequate documentation on whether they have entered into transactions with eligible entities and is in compliance with Federal guidelines. Questioned Costs: Unknown Recommendation: We recommend the Organization ensure a process to document and retain support on verification that entities are not suspended, debarred, or otherwise excluded annually at the time of award. Auditee Response and Corrective Action Plan: Management agrees with the finding. Refer to the Corrective Action Plan. Auditor’s Conclusion: Finding remains as stated.
Finding 2024-001
Condition: During our audit, we were unable to obtain documentation to support the Organization entering into contractual agreements with vendors who were not debarred or suspended from doing business with the Federal government. Criteria: Per Uniform Guidance, Non-Federal entities are prohibited from contracting with or making subawards under covered transactions to parties that are suspended or debarred. “Covered transactions” include contracts for goods and services awarded under a non-procurement transaction (e.g., grant or cooperative agreement) that are expected to equal or exceed $25,000 or meet certain other criteria as specified in 2 CFR section 180.220. All non-procurement transactions entered into by a pass-through entity (i.e., subawards to subrecipients), irrespective of award amount, are considered covered transactions, unless they are exempt as provided in 2 CFR section 180.215. Cause: Management did not maintain the documentation to support their review and verification of vendors/contractors to determine they were not suspended, debarred, or otherwise excluded before contracting. Effect: The Organization does not have adequate documentation on whether they have entered into transactions with eligible entities and is in compliance with Federal guidelines. Questioned Costs: Unknown Recommendation: We recommend the Organization ensure a process to document and retain support on verification that entities are not suspended, debarred, or otherwise excluded annually at the time of award. Auditee Response and Corrective Action Plan: Management agrees with the finding. Refer to the Corrective Action Plan. Auditor’s Conclusion: Finding remains as stated.