FAC Explorer

Audit 353772

FY End
2024-12-31
Total Expended
$1.32M
Findings
2
Programs
3
Organization: Central Indiana Corporate Partnership, Inc. (IN)
Year: 2024 Accepted: 2025-04-15
Auditor: Katz Sapper & Miller LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
555169 2024-001 Significant Deficiency - I
1131611 2024-001 Significant Deficiency - I

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.12M Yes 1
12.333 Advanced Manufacturing Technology - Office of the Secretary of Defense (osd), Manufacturing Technology (mantech) Program $168,849 - 0
11.020 Cluster Grants $32,062 - 0

Contacts

Name Title Type
DCU7Y1K5NHU8 Latoya Botteron Auditee
3175324802 Justin Hayes Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Central Indiana Corporate Partnership, Inc., including its affiliated foundation (CICP). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or when not applicable the specific federal award agreement, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: CICP has elected not to use the 10% 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 Central Indiana Corporate Partnership, Inc., including its affiliated foundation (CICP). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or when not applicable the specific federal award agreement, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 2 - INDIRECT COST RATE Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Central Indiana Corporate Partnership, Inc., including its affiliated foundation (CICP). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or when not applicable the specific federal award agreement, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: CICP has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. CICP has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
2024-001 COVID-19 – Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Significant Deficiency in Internal Control Over Compliance – Appropriate Internal Control Structure Related to Compliance Requirements I. Procurement and Suspension and Debarment Criteria: 2 CFR 200.303 includes requirements related to internal controls for federal award programs, including that CICP must, among other things, “establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)”. Condition and Context: We noted CICP did not complete their procurement checklist timely for one specific vendor, in accordance with their written policies. The procurement checklist is CICP’s key control for monitoring procurement and suspension and debarment of vendors. The vendor relationship was an existing relationship, but the vendor had not previously been used for any activities related to federal awards. CICP had other written documentation which provided evidence they followed their procurement process; however, no written documentation was maintained indicating suspension or debarment was reviewed prior to using the vendor for activities related to the federal award. Cause and Effect: Not completing the procurement checklist timely could result in noncompliance related to procurement and suspension and debarment. Recommendation: We recommend the procurement checklist be completed in line with the written policies of CICP. Views of Responsible Officials and Planned Corrective Action: CICP agrees with the recommendation and it was implemented effective 2/14/2025.
Finding 2024-001
2024-001 COVID-19 – Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Significant Deficiency in Internal Control Over Compliance – Appropriate Internal Control Structure Related to Compliance Requirements I. Procurement and Suspension and Debarment Criteria: 2 CFR 200.303 includes requirements related to internal controls for federal award programs, including that CICP must, among other things, “establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)”. Condition and Context: We noted CICP did not complete their procurement checklist timely for one specific vendor, in accordance with their written policies. The procurement checklist is CICP’s key control for monitoring procurement and suspension and debarment of vendors. The vendor relationship was an existing relationship, but the vendor had not previously been used for any activities related to federal awards. CICP had other written documentation which provided evidence they followed their procurement process; however, no written documentation was maintained indicating suspension or debarment was reviewed prior to using the vendor for activities related to the federal award. Cause and Effect: Not completing the procurement checklist timely could result in noncompliance related to procurement and suspension and debarment. Recommendation: We recommend the procurement checklist be completed in line with the written policies of CICP. Views of Responsible Officials and Planned Corrective Action: CICP agrees with the recommendation and it was implemented effective 2/14/2025.