FAC Explorer

Audit 364574

FY End
2024-12-31
Total Expended
$1.31M
Findings
2
Programs
2
Organization: Minnesota Farmers Union (MN)
Year: 2024 Accepted: 2025-08-20
Auditor: Carlsonsv

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
573966 2024-005 - - L
1150408 2024-005 - - L

Programs

ALN Program Spent Major Findings
11.307 Economic Adjustment Assistance $930,649 Yes 1
10.382 Meat and Poultry Intermediary Lending Program $378,000 - 0

Contacts

Name Title Type
R1AKJL4TXVL3 Stu Lourey Auditee
6516391223 Margo Rosen Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 – BASIS OF PRESENTATION Accounting Policies: Refer to significant accounting policies used in preparing the SEFA on the Forms tab. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Farmers Union Foundation (a consolidated entity with respect to Minnesota Farmers Union) 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Refer to significant accounting policies used in preparing the SEFA on the Forms tab. De Minimis Rate Used: N Rate Explanation: The auditee did not use 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. Materials and supplies purchased for the program are recorded at cost.
Title: NOTE 3 – AMOUNTS PROVIDED TO SUBRECIPIENTS Accounting Policies: Refer to significant accounting policies used in preparing the SEFA on the Forms tab. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. No amounts were provided to subrecipients.
Title: NOTE 4 – INDIRECT COST RATE Accounting Policies: Refer to significant accounting policies used in preparing the SEFA on the Forms tab. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Organization has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2024-005
Late Submission of Prior Year’s Single Audit Report to the Federal Audit Clearinghouse – Federal Program Economic Development Assistance Program, ALN 11.307 Criteria - In accordance with 2 CFR §200.512(a), the auditee must submit the reporting package to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of the auditor’s report or nine months after the end of the audit period. Timely submission is required to ensure compliance with federal reporting requirements and to allow federal agencies access to audit results. Condition - The auditee submitted the 2022 Single Audit reporting package to the FAC on November 8, 2023, which was after the required due date of September 30, 2023. Cause - The delay was due to finalizing the financial statements and related audit. There was a change in auditors that year. Effect - Failure to submit the Single Audit reporting package to the FAC within the required timeframe constitutes noncompliance with federal requirements and could result in federal agencies taking enforcement actions, such as delayed funding decisions or additional reporting requirements. Questioned Costs - None. Recommendation - We recommend that the auditee implement procedures to ensure the timely submission of future Single Audit reporting packages to the FAC. This may include establishing an internal deadline well in advance of the federal due date, assigning responsibility to a designated staff member, and monitoring submission status. Views of Responsible Officials - Management concurs with the finding and has implemented procedures to ensure future submissions to the FAC are made within the required timeframe.
Finding 2024-005
Late Submission of Prior Year’s Single Audit Report to the Federal Audit Clearinghouse – Federal Program Economic Development Assistance Program, ALN 11.307 Criteria - In accordance with 2 CFR §200.512(a), the auditee must submit the reporting package to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of the auditor’s report or nine months after the end of the audit period. Timely submission is required to ensure compliance with federal reporting requirements and to allow federal agencies access to audit results. Condition - The auditee submitted the 2022 Single Audit reporting package to the FAC on November 8, 2023, which was after the required due date of September 30, 2023. Cause - The delay was due to finalizing the financial statements and related audit. There was a change in auditors that year. Effect - Failure to submit the Single Audit reporting package to the FAC within the required timeframe constitutes noncompliance with federal requirements and could result in federal agencies taking enforcement actions, such as delayed funding decisions or additional reporting requirements. Questioned Costs - None. Recommendation - We recommend that the auditee implement procedures to ensure the timely submission of future Single Audit reporting packages to the FAC. This may include establishing an internal deadline well in advance of the federal due date, assigning responsibility to a designated staff member, and monitoring submission status. Views of Responsible Officials - Management concurs with the finding and has implemented procedures to ensure future submissions to the FAC are made within the required timeframe.