FAC Explorer

Audit 35901

FY End
2022-06-30
Total Expended
$12.67M
Findings
2
Programs
1
Organization: McCormick Commission of Public Works (SC)
Year: 2022 Accepted: 2023-02-20
Auditor: McKinley Cooper & CO LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
31412 2022-001 Significant Deficiency - P
607854 2022-001 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
10.760 Water and Waste Disposal Systems for Rural Communities $12.67M Yes 1

Contacts

Name Title Type
FSUMW71XAYU6 Cheryl Daniels Auditee
8648522224 Toni McKinley Auditor
No contacts on file

Notes to SEFA

Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF MCCORMICK COMMISSION OF PUBLIC WORKS, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION OR CHANGES IN NET POSITION OF MCCORMICK COMMISSION OF PUBLIC WORKS. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR STATES, LOCAL GOVERNMENTS, AND INDIAN TRIBES, 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.

Finding Details

Finding 2022-001
SIGNIFICANT DEFICIENCY. 2022-001. CONDITION: THERE IS A LACK OF DEGREGATION OF ACCOUNTING DUTIES THAT ENABLES THE SAME INDIVIDUALS TO HAVE ACCESS TO BOTH PHYSICAL ASSETS AND THE RELATED ACCOUNTING RECORDS OR TO ALL PHASES OF A TRANSACTION. EFFECT: TRANSACTIONS COULD BE MISHANDLED. CRITERIA: DUTIES SHOULD BE SEGREGATED TO PROVIDE REASONABLE ASSURANCE THAT TRANSACTIONS ARE HANDLED APPROPRIATELY. CAUSE: THERE ARE A LIMITED NUMBER OF PERSONNEL FOR CERTAIN FUNCTIONS. IDENTIFICATION OF A REPORT FINDING: THIS IS NOT A REPEAT FINDING. RECOMMENDATION: DUTIES SHOULD BE SEGREGATED TO THE EXTENT POSSIBLE. THE COMMISSIONERS MUST REMAIN INVOLVED IN THE FINANCIAL AFFAIRS OF THE COMMISSION TO PROVIDE OVERSIGHT AND INDEPENDENT REVIEW FUNCTIONS. VIEWS OF RESPONSIBLE OFFICIALS AND PLANNED CORRECTIVE ACTIONS: THE COMMISSION AGREES WITH THIS FINDING AND WILL ADHERE TO THE CORRECTIVE ACTION PLAN IN THIS REPORT.
Finding 2022-001
SIGNIFICANT DEFICIENCY. 2022-001. CONDITION: THERE IS A LACK OF DEGREGATION OF ACCOUNTING DUTIES THAT ENABLES THE SAME INDIVIDUALS TO HAVE ACCESS TO BOTH PHYSICAL ASSETS AND THE RELATED ACCOUNTING RECORDS OR TO ALL PHASES OF A TRANSACTION. EFFECT: TRANSACTIONS COULD BE MISHANDLED. CRITERIA: DUTIES SHOULD BE SEGREGATED TO PROVIDE REASONABLE ASSURANCE THAT TRANSACTIONS ARE HANDLED APPROPRIATELY. CAUSE: THERE ARE A LIMITED NUMBER OF PERSONNEL FOR CERTAIN FUNCTIONS. IDENTIFICATION OF A REPORT FINDING: THIS IS NOT A REPEAT FINDING. RECOMMENDATION: DUTIES SHOULD BE SEGREGATED TO THE EXTENT POSSIBLE. THE COMMISSIONERS MUST REMAIN INVOLVED IN THE FINANCIAL AFFAIRS OF THE COMMISSION TO PROVIDE OVERSIGHT AND INDEPENDENT REVIEW FUNCTIONS. VIEWS OF RESPONSIBLE OFFICIALS AND PLANNED CORRECTIVE ACTIONS: THE COMMISSION AGREES WITH THIS FINDING AND WILL ADHERE TO THE CORRECTIVE ACTION PLAN IN THIS REPORT.