FAC Explorer

Audit 360669

FY End
2024-12-31
Total Expended
$1.17M
Findings
2
Programs
1
Organization: Rio Grande Headwaters Land Trust (CO)
Year: 2024 Accepted: 2025-06-30
Auditor: Wall Smith Bateman INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
569027 2024-001 Significant Deficiency - L
1145469 2024-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
15.623 North American Wetlands Conservation Fund $1.17M Yes 1

Contacts

Name Title Type
HGS9YTM8WMK5 Laura Cusick Auditee
7196570800 Kimberley Temple 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. Pass-through entity identifying numbers are presented where available. Rio Grande Headwaters Land Trust did not elect to use the 10 or 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance for the year ended December 31, 2024. De Minimis Rate Used: N Rate Explanation: The auditee did not use the 10 or 15-percent de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Rio Grande Headwaters Land Trust under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of 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 Rio Grande Headwaters Land Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of Rio Grande Headwaters Land Trust.

Finding Details

Finding 2024-001
Finding 2024-001: North American Wetlands Conservation Fund Assistance Listing Number: 15.623 U.S. Department of Interior Pass-through: N/A Compliance Requirement: Reporting Grant No.: N/A Type of Finding: Internal Control Over Compliance (significant deficiency) and Compliance (noncompliance) Criteria: The Federal Funding and Accountability Transparency Act (FFATA) requires recipients who make first-tier subawards that equal or exceed $30,000 in federal funds to report each sub-award to the Federal Funding Accountability and Transparency Act Subaward Reporting System no later than the end of the month following the month in which the subaward was issued. Condition: The Organization did not report subaward activity as required by FFATA. Cause: Management was unaware of this reporting requirement. Questioned Costs: None Effect: The Organization did not comply with FFATA reporting requirements. Recommendation: The Organization should strengthen its internal controls with adopted policies and procedures that include the evaluation of grant terms and conditions to ensure compliance with reporting requirements. Management's Response: See Corrective Action Plan.
Finding 2024-001
Finding 2024-001: North American Wetlands Conservation Fund Assistance Listing Number: 15.623 U.S. Department of Interior Pass-through: N/A Compliance Requirement: Reporting Grant No.: N/A Type of Finding: Internal Control Over Compliance (significant deficiency) and Compliance (noncompliance) Criteria: The Federal Funding and Accountability Transparency Act (FFATA) requires recipients who make first-tier subawards that equal or exceed $30,000 in federal funds to report each sub-award to the Federal Funding Accountability and Transparency Act Subaward Reporting System no later than the end of the month following the month in which the subaward was issued. Condition: The Organization did not report subaward activity as required by FFATA. Cause: Management was unaware of this reporting requirement. Questioned Costs: None Effect: The Organization did not comply with FFATA reporting requirements. Recommendation: The Organization should strengthen its internal controls with adopted policies and procedures that include the evaluation of grant terms and conditions to ensure compliance with reporting requirements. Management's Response: See Corrective Action Plan.