FAC Explorer

Audit 349781

FY End
2024-06-30
Total Expended
$12.24M
Findings
2
Programs
1
Organization: Army West Point Athletic Association, Inc. (NY)
Year: 2024 Accepted: 2025-03-28
Auditor: Pkf O'Connor Davies LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
539080 2024-002 Significant Deficiency - L
1115522 2024-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
12.432 U.s. Military Academy Athletic Programs at West Point $12.24M Yes 1

Contacts

Name Title Type
FUY6J8317A33 Wen-Kang Chang Auditee
8459388758 Michelle S. O'Reilly Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Summary of Significant Accounting Policies Expenditures reported in 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: The Association has elected not to use the 10% de minims indirect cost rate allowed under the Uniform Guidance. The schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Army West Point Athletic Association Inc. (the “Association”) under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.

Finding Details

Finding 2024-002
Criteria: Per 2 CFR 200.328 and the Cooperative Agreement with the US Army, the Reporting Requirements state that (a) interim performance reports must be submitted in electronic form, (b) contain detail technical progress to date and report on all problems, technical issues, or major developments that arose during the reporting period, and (c) be submitted quarterly within 30 days after completion of the reporting period throughout the term of the agreement. Condition: During the process of performing our audit, we noted that the interim performance report for two of two quarters selected during the period July 1, 2023 – June 30, 2024 were not submitted within 30 days after completion of the reporting period. Questioned costs: None noted Effect: The auditor must report late submission of interim performance reports as audit findings in a schedule of findings and questioned costs. The Association is not in compliance with the interim performance reporting deadline. Cause: The interim performance reports were all completed on the same date and were submitted, via e-mail, in one batch for the entire period of July 1, 2023 – June 30, 2024, in October 2024 instead of the required reporting due dates for each quarter. Recommendation: We recommend that the Association monitor reporting compliance by understanding the reporting requirements and establishing controls and processes to complete the timely filing of the interim performance reporting package by the due date. Management’s Corrective Action Plan: Management has indicated that they have put certain procedures in place as detailed in the Corrective Action Plan located in Appendix A of the Schedule of Findings and Questioned Costs.
Finding 2024-002
Criteria: Per 2 CFR 200.328 and the Cooperative Agreement with the US Army, the Reporting Requirements state that (a) interim performance reports must be submitted in electronic form, (b) contain detail technical progress to date and report on all problems, technical issues, or major developments that arose during the reporting period, and (c) be submitted quarterly within 30 days after completion of the reporting period throughout the term of the agreement. Condition: During the process of performing our audit, we noted that the interim performance report for two of two quarters selected during the period July 1, 2023 – June 30, 2024 were not submitted within 30 days after completion of the reporting period. Questioned costs: None noted Effect: The auditor must report late submission of interim performance reports as audit findings in a schedule of findings and questioned costs. The Association is not in compliance with the interim performance reporting deadline. Cause: The interim performance reports were all completed on the same date and were submitted, via e-mail, in one batch for the entire period of July 1, 2023 – June 30, 2024, in October 2024 instead of the required reporting due dates for each quarter. Recommendation: We recommend that the Association monitor reporting compliance by understanding the reporting requirements and establishing controls and processes to complete the timely filing of the interim performance reporting package by the due date. Management’s Corrective Action Plan: Management has indicated that they have put certain procedures in place as detailed in the Corrective Action Plan located in Appendix A of the Schedule of Findings and Questioned Costs.