FAC Explorer

Audit 361308

FY End
2024-06-30
Total Expended
$758,504
Findings
2
Programs
3
Organization: City of Osceola, Iowa (IA)
Year: 2024 Accepted: 2025-07-02
Auditor: Roof Gerdes Erlbacher Plc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
570025 2024-007 Material Weakness - P
1146467 2024-007 Material Weakness - P

Programs

ALN Program Spent Major Findings
20.106 Airport Improvement Program, Infrastructure Investment and Jobs Act Programs, and Covid-19 Airports Programs $618,550 Yes 1
14.871 Section 8 Housing Choice Vouchers $139,090 - 0
20.237 Motor Carrier Safety Assistance High Priority Activities Grants and Cooperative Agreements $864 - 0

Contacts

Name Title Type
S5YHKYZJ4KM5 Ty Wheeler Auditee
6413422377 Steve Gerdes Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Expenditures reported in the Schedule are reported on the basis of cash receipts and disbursements which is a basis of accounting other than U.S. generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, whrein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The City of Osceola has elected not to use the 10% de minimus cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-007
Criteria - The State of Iowa requires that construction projects which exceed a certain dollar amount, as defined by the State, follow the bid criteria as noted at Section 26.3 of the Code of Iowa.
Finding 2024-007
Criteria - The State of Iowa requires that construction projects which exceed a certain dollar amount, as defined by the State, follow the bid criteria as noted at Section 26.3 of the Code of Iowa.