FAC Explorer

Audit 35594

FY End
2022-09-30
Total Expended
$1.78M
Findings
4
Programs
1
Organization: Bell County Expo, Inc. (TX)
Year: 2022 Accepted: 2023-02-16
Auditor: Brockway Gersbach Franklin & Niemeier PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
30573 2022-001 Significant Deficiency - P
30574 2022-002 Significant Deficiency - F
607015 2022-001 Significant Deficiency - P
607016 2022-002 Significant Deficiency - F

Programs

ALN Program Spent Major Findings
59.075 Shuttered Venue Operators Grant Program $1.78M Yes 2

Contacts

Name Title Type
UASKE8SM57R6 Tim Stephens Auditee
2549335353 Brooke Barron 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: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bell County Expo, Inc. (the Expo) under programs of the federal government for the year ended September 30, 2022.The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Expo, it is not intended to and does not present the Expo's financial position, changes in net assets, or cash flows. Federal financial assistance received directly from federal agencies as well as federal assistance passed through other government agencies is included on this schedule.
Title: Subsequent Events 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: The auditee did not use the de minimis cost rate. The Expo evaluated subsequent events applicable to federal award programs through January 29, 2023, the date which the report was available to be issued.

Finding Details

Finding 2022-001
Federal Agency: U.S. Small Business Administration Federal Program: 59.075 Shuttered Venue Operators Program Grant Period: Year ended September 30, 2022 Criteria: 2 CFR 200.302(b)(7), 2 CFR 200.318(c)(1) Condition: Written policies and procedures for the determination of allowable of costs, conflicts of interest, and procedures for procurement transactions surrounding federal awards were not available. Cause: Unfamiliarity with requirements stated in 2 CFR 200 of the Uniform Guidance. Potential Effect: Instances of noncompliance with direct and material compliance requirements may occur. Repeat Finding: No Management?s Response and Planned Corrective Action: In the event of receipt of future Federal Awards, management and the board of directors will work towards developing a Federal Award Policy and Procedure Manual to be used for federal awards management. Responsible Person: Tim Stephens, Executive Director
Finding 2022-002
Federal Agency: U.S. Small Business Administration Federal Program: 59.075 Shuttered Venue Operators Program Grant Period: Year ended September 30, 2022 Criteria: 2 CFR 200.313(a)(2), 2 CFR 200.311(a), 2 CFR 200.311(b) Condition: Title to real property and equipment acquired with the federal award is held by the County per the management operating agreement. Cause: As described in Note 5 to the financial statements, the Expo manages the operations of the Expo Center on behalf of Bell County through a management agreement. Per the Expo?s management agreement, any buildings, fixtures, improvements, furniture, equipment, and tangible personal property on the Expo Center premises is the property of Bell County. The Expo maintains control of capital assets for use in the operations of the Expo. Bell County owns, insures, maintains, and repairs all capital assets on the Expo premises. Potential Effect: Instances of noncompliance with direct and material compliance requirement. Repeat Finding: No Management?s Response and Planned Corrective Action: The Expo maintains physical control of all capital assets acquired with federal awards. The Expo uses all capital assets acquired with federal awards in the operations of the Expo. The relationship with Bell County provides for high quality management of capital assets through County insurance and maintenance. The Expo believes their relationship with the County does not constitute noncompliance, as the Expo uses all capital assets in its continued operations. Responsible Person: Tim Stephens, Executive Director
Finding 2022-001
Federal Agency: U.S. Small Business Administration Federal Program: 59.075 Shuttered Venue Operators Program Grant Period: Year ended September 30, 2022 Criteria: 2 CFR 200.302(b)(7), 2 CFR 200.318(c)(1) Condition: Written policies and procedures for the determination of allowable of costs, conflicts of interest, and procedures for procurement transactions surrounding federal awards were not available. Cause: Unfamiliarity with requirements stated in 2 CFR 200 of the Uniform Guidance. Potential Effect: Instances of noncompliance with direct and material compliance requirements may occur. Repeat Finding: No Management?s Response and Planned Corrective Action: In the event of receipt of future Federal Awards, management and the board of directors will work towards developing a Federal Award Policy and Procedure Manual to be used for federal awards management. Responsible Person: Tim Stephens, Executive Director
Finding 2022-002
Federal Agency: U.S. Small Business Administration Federal Program: 59.075 Shuttered Venue Operators Program Grant Period: Year ended September 30, 2022 Criteria: 2 CFR 200.313(a)(2), 2 CFR 200.311(a), 2 CFR 200.311(b) Condition: Title to real property and equipment acquired with the federal award is held by the County per the management operating agreement. Cause: As described in Note 5 to the financial statements, the Expo manages the operations of the Expo Center on behalf of Bell County through a management agreement. Per the Expo?s management agreement, any buildings, fixtures, improvements, furniture, equipment, and tangible personal property on the Expo Center premises is the property of Bell County. The Expo maintains control of capital assets for use in the operations of the Expo. Bell County owns, insures, maintains, and repairs all capital assets on the Expo premises. Potential Effect: Instances of noncompliance with direct and material compliance requirement. Repeat Finding: No Management?s Response and Planned Corrective Action: The Expo maintains physical control of all capital assets acquired with federal awards. The Expo uses all capital assets acquired with federal awards in the operations of the Expo. The relationship with Bell County provides for high quality management of capital assets through County insurance and maintenance. The Expo believes their relationship with the County does not constitute noncompliance, as the Expo uses all capital assets in its continued operations. Responsible Person: Tim Stephens, Executive Director