FAC Explorer

Audit 361959

FY End
2024-12-31
Total Expended
$1.54M
Findings
4
Programs
2
Organization: Homeward Pikes Peak (CO)
Year: 2024 Accepted: 2025-07-10
Auditor: Biggskofford

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
571010 2024-001 Significant Deficiency - P
571011 2024-002 Significant Deficiency - P
1147452 2024-001 Significant Deficiency - P
1147453 2024-002 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
14.267 Continuum of Care Program $1.38M Yes 2
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $164,501 - 0

Contacts

Name Title Type
GLSZLLLJCJU3 Elizabeth Roalstad Auditee
7194735557 Tyler Atkins Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the SEFA 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 to reimbursement. De Minimis Rate Used: Y Rate Explanation: Unless an indirect rate was specified in the grant agreement, HPP elected to use the 10% de minimis indirect cost rate to recover allowable indirect costs for federal grants. The accompanying schedule of expenditures of federal awards ("SEFA") includes the federal award activity of Homeward Pikes Peak ("HPP"), 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 SEFA presents only a selected portion of the operations of HPP, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of HPP. If HPP is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported on the SEFA 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 to reimbursement. De Minimis Rate Used: Y Rate Explanation: Unless an indirect rate was specified in the grant agreement, HPP elected to use the 10% de minimis indirect cost rate to recover allowable indirect costs for federal grants. Expenditures reported on the SEFA 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 to reimbursement.
Title: INDIRECT COSTS Accounting Policies: Expenditures reported on the SEFA 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 to reimbursement. De Minimis Rate Used: Y Rate Explanation: Unless an indirect rate was specified in the grant agreement, HPP elected to use the 10% de minimis indirect cost rate to recover allowable indirect costs for federal grants. Unless an indirect rate was specified in the grant agreement, HPP elected to use the 10% de minimis indirect cost rate to recover allowable indirect costs for federal grants.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS Accounting Policies: Expenditures reported on the SEFA 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 to reimbursement. De Minimis Rate Used: Y Rate Explanation: Unless an indirect rate was specified in the grant agreement, HPP elected to use the 10% de minimis indirect cost rate to recover allowable indirect costs for federal grants. The amount of total expenditures of federal awards reconciles to the revenue in the statement of activities as follows: Total expenditures of federal awards 1,544,413 Add: Other expenditures of federal awards not subject to Uniform Guidance 70,928 Grants and contributions (non-federal awards) 2,111,549 Grants and contributions per statement of activities 3,726,890
Title: OTHER ITEMS Accounting Policies: Expenditures reported on the SEFA 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 to reimbursement. De Minimis Rate Used: Y Rate Explanation: Unless an indirect rate was specified in the grant agreement, HPP elected to use the 10% de minimis indirect cost rate to recover allowable indirect costs for federal grants. Pass-through entity identifying numbers have been included where available.

Finding Details

Finding 2024-001
Preparation of and Internal Controls Over Monthly Invoicing and SEFA Preparation Significant deficiency Condition: As a result of our audit procedures and review of the SEFA, we proposed adjustments to the SEFA, which resulted in a material change in total expenditures of federal awards. Additionally, for two months, the Organization didn't update costs incurred to be billed to the federal government on their monthly invoicing. Criteria: 2 CFR Part 200 Cause: There was not an independent review of the SEFA by someone other than the preparer. Effect: Audit adjustments were required for the SEFA to be materially correct in accordance with 2 CFR Part 200.510(b). Recommendation: We recommend that prior to sending the SEFA to the auditors, management perform a detailed review of the SEFA, general ledger, and monthly invoicing spreadsheets for each federal program included on the SEFA, to ensure the reports are consistent and the SEFA is complete and accurate. If possible, this review should be completed by an individual who did not prepare the SEFA. View of Responsible Official and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Reconciliation of Grants Receivable Significant deficiency Condition: As a result of our audit procedures, we proposed adjustments to grants receivable, which resulted in a material change in grants receivable and revenue recognized during the period under audit. Criteria: Adequate internal control functions over the financial reporting process. Cause: The Organization changed accounting software during the year and had difficulty reconciling the account between the two software systems. Additionally, there was not an independent review of grants receivable by someone other than the preparer. Effect: Misstatement of the Organization's financial statements will not be prevented, or detected and corrected, on a timely basis. Recommendation: We recommend that the receivable ledger be reconciled to the general ledger on a monthly basis. Any differences should be investigated and resolved as soon as possible, and there should be an independent review of the reconciliation. This practice serves as a check on the accuracy of the record keeping process and maintains the accounts receivable on a more timely and accurate basis. View of Responsible Official and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-001
Preparation of and Internal Controls Over Monthly Invoicing and SEFA Preparation Significant deficiency Condition: As a result of our audit procedures and review of the SEFA, we proposed adjustments to the SEFA, which resulted in a material change in total expenditures of federal awards. Additionally, for two months, the Organization didn't update costs incurred to be billed to the federal government on their monthly invoicing. Criteria: 2 CFR Part 200 Cause: There was not an independent review of the SEFA by someone other than the preparer. Effect: Audit adjustments were required for the SEFA to be materially correct in accordance with 2 CFR Part 200.510(b). Recommendation: We recommend that prior to sending the SEFA to the auditors, management perform a detailed review of the SEFA, general ledger, and monthly invoicing spreadsheets for each federal program included on the SEFA, to ensure the reports are consistent and the SEFA is complete and accurate. If possible, this review should be completed by an individual who did not prepare the SEFA. View of Responsible Official and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Reconciliation of Grants Receivable Significant deficiency Condition: As a result of our audit procedures, we proposed adjustments to grants receivable, which resulted in a material change in grants receivable and revenue recognized during the period under audit. Criteria: Adequate internal control functions over the financial reporting process. Cause: The Organization changed accounting software during the year and had difficulty reconciling the account between the two software systems. Additionally, there was not an independent review of grants receivable by someone other than the preparer. Effect: Misstatement of the Organization's financial statements will not be prevented, or detected and corrected, on a timely basis. Recommendation: We recommend that the receivable ledger be reconciled to the general ledger on a monthly basis. Any differences should be investigated and resolved as soon as possible, and there should be an independent review of the reconciliation. This practice serves as a check on the accuracy of the record keeping process and maintains the accounts receivable on a more timely and accurate basis. View of Responsible Official and Planned Corrective Action: Management agrees with the finding. See corrective action plan.