FAC Explorer

Audit 360205

FY End
2024-06-30
Total Expended
$1.58M
Findings
12
Programs
4
Organization: Grameen Foundation (DC)
Year: 2024 Accepted: 2025-06-26
Auditor: Gelman Rosenberg & Freedman

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
567649 2024-001 Significant Deficiency - L
567650 2024-001 Significant Deficiency - L
567651 2024-001 Significant Deficiency - L
567652 2024-001 Significant Deficiency - L
567653 2024-001 Significant Deficiency - L
567654 2024-001 Significant Deficiency - L
1144091 2024-001 Significant Deficiency - L
1144092 2024-001 Significant Deficiency - L
1144093 2024-001 Significant Deficiency - L
1144094 2024-001 Significant Deficiency - L
1144095 2024-001 Significant Deficiency - L
1144096 2024-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
98.001 Usaid Foreign Assistance for Programs Overseas $962,074 Yes 1
19.801 Office of Global Women's Issues $326,518 - 1
98.345 Strengthening Women’s Participation in the Workforce in Honduras $107,360 - 1
98.009 John Ogonowski Farmer-to-Farmer Program $99,721 - 1

Contacts

Name Title Type
ENJUL1KALF63 Geraldine Gonzales Auditee
2026283560 Walt Derengowski Auditor
No contacts on file

Notes to SEFA

Title: Note 1. Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Grameen Foundation USA has elected not to use the de minimis indirect cost rate as allowed under Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Grameen Foundation USA under programs of the Federal Government for the year ended June 30, 2024. Information in the 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). The Schedule presents only a selected portion of the operations of Grameen Foundation USA; accordingly, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of Grameen Foundation USA.
Title: Note 2. Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Grameen Foundation USA has elected not to use the de minimis indirect cost rate as allowed under Uniform Guidance. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Grameen Foundation USA has elected not to use the de minimis indirect cost rate as allowed under Uniform Guidance.

Finding Details

Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.
Finding 2024-001
Finding 2024-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Program: All Federal Programs Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2023 was due to the Federal audit clearinghouse by March 31, 2024. However, the data collection form was submitted on May 23, 2024. Cause: During the 2023 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2023 auditor's report(s) were dated May 3, 2024. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None. Context: As a result of delays in the completion of the 2023 audit, the single audit reporting package for the year ended June 30, 2023, was not submitted timely. Identification as a Repeat Finding, if Applicable: Not a repeat finding. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.