FAC Explorer

Audit 364454

FY End
2024-12-31
Total Expended
$894,091
Findings
2
Programs
5
Organization: Opportunity Alabama, Inc. (AL)
Year: 2024 Accepted: 2025-08-18
Auditor: Warren Averett

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
573781 2024-002 Significant Deficiency - A
1150223 2024-002 Significant Deficiency - A

Programs

ALN Program Spent Major Findings
11.307 Economic Adjustment Assistance $676,859 Yes 1
23.002 Appalachian Area Development $171,758 - 0
90.705 Southeast Crescent Regional Commission - Economic and Infrastructure Development Grants $32,003 - 0
15.904 Historic Preservation Fund Grants-in-Aid $9,153 - 0
14.252 Section 4 Capacity Building for Community Development and Affordable Housing $4,318 - 0

Contacts

Name Title Type
F8MKNHNDNCV8 Megan Warren Auditee
5418917100 Robert Walston Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF ACCOUNTING 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. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Opportunity Alabama, Inc. (the Organization) under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with 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). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the financial position, change in net assets or cash flows of the Organization.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. 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.
Title: INDIRECT COST RATE 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. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The Organization has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: SUBRECIPIENT 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. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. See the Notes to the SEFA for chart/table

Finding Details

Finding 2024-002
2024-002 – Lack of Documentation - Significant Deficiency Criteria: The Office of Management and Budget (OMB) Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), requires Opportunity Alabama, Inc. to adequately document the approval of payments. Condition: During the audit, we noted that 12 of 40 transactions selected for cash disbursement testing lacked proof of approval for reimbursement. Cause: The Organization’s procedures related to the approval process were not adequate to properly authorize transactions. Effect: We were unable to determine if proper review had occurred for the transactions in question. Recommendation: We recommend that the form or process that was developed to ensure that disbursements are approved for reimbursement be strictly adhered to by all employees. This will ensure that funds are used for appropriate purposes and in accordance with grant provisions. View of Responsible Officials: Management agrees with the finding. See Corrective Action Plan at the end of the report.
Finding 2024-002
2024-002 – Lack of Documentation - Significant Deficiency Criteria: The Office of Management and Budget (OMB) Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), requires Opportunity Alabama, Inc. to adequately document the approval of payments. Condition: During the audit, we noted that 12 of 40 transactions selected for cash disbursement testing lacked proof of approval for reimbursement. Cause: The Organization’s procedures related to the approval process were not adequate to properly authorize transactions. Effect: We were unable to determine if proper review had occurred for the transactions in question. Recommendation: We recommend that the form or process that was developed to ensure that disbursements are approved for reimbursement be strictly adhered to by all employees. This will ensure that funds are used for appropriate purposes and in accordance with grant provisions. View of Responsible Officials: Management agrees with the finding. See Corrective Action Plan at the end of the report.