FAC Explorer

Audit 365263

FY End
2024-09-30
Total Expended
$988,010
Findings
4
Programs
3
Organization: Alabama Classical Group (AL)
Year: 2024 Accepted: 2025-08-29
Auditor: Horton Lee Burnett Peacock Cleveland & Grainger PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
575165 2024-001 - - L
575166 2024-002 Significant Deficiency - BC
1151607 2024-001 - - L
1151608 2024-002 Significant Deficiency - BC

Programs

ALN Program Spent Major Findings
84.282 Charter Schools $970,939 Yes 2
10.555 National School Lunch Program $11,066 - 0
10.553 School Breakfast Program $6,005 - 0

Contacts

Name Title Type
PV67YTUAU1E7 David Withun Auditee
3345955580 Patricia Oh Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The Schedule is presented based on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. A one-year availability period is used for revenue recognition for all governmental fund revenues. Expenditures are recorded when the related liability is incurred. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, as well as other applicable provisions of contracts and grant agreements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable. De Minimis Rate Used: N Rate Explanation: The School has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Alabama Classical Group, DBA Ivy Classical Academy (the “School”) under programs of the federal government for the year ended September 30, 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 School, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the School.

Finding Details

Finding 2024-001
Criteria - The School's annual filing with the Federal Audit Clearinghouse ("FAC") for fiscal year ended September 30, 2024 was due no later than June 30, 2025. Condition - The required annual filing with FAC was not made by the required deadline of June 30, 2025. Cause - Delay in the engagement of an independent auditor to begin the single audit. Effect - A delay in the audit for fiscal year ended September 30, 2024 resulted in the FAC deadline being missed. Untimely filing hinders the timely administration and assessment of results by grantor officials. Recommendation - We recommend that the School should implement formal internal control policies and procedures to rectify the conditions noted above. Management response - See corrective action plan provided by the Head of School.
Finding 2024-002
Criteria - Title 2 CFR 200.305 of the Uniform Guidance requires that program costs be paid with recipient or subrecipient funds before requesting reimbursement from the federal government or pass-through entity. When awards provide for advance payments, recipients must follow procedures to minimize the time between drawdown of funds from the U.S. Treasury and expenditure of funds by the recipient or subrecipient. Condition - During the audit for the year ended September 30, 2024, we noted three instances of reimbursements requested from the pass-through entity for expenditures that were not paid prior to the request. The School subsequently made payments to the vendors in August 2025. Cause - Funds were requested to reimburse for School expenditures that were not paid to vendors. Questioned costs - $7,180. Effect - The School did not minimize the time between the drawdown of funds and the disbursement of funds to the vendors. Recommendation - We recommend that the School should implement adequate policies and procedures to ensure requests for drawdowns are reimbursements of program expenditures and, when the drawdown is an advance payment, the time period between the drawdown of funds and the use of the funds is minimized. Management response - See corrective action plan provided by the Head of School.
Finding 2024-001
Criteria - The School's annual filing with the Federal Audit Clearinghouse ("FAC") for fiscal year ended September 30, 2024 was due no later than June 30, 2025. Condition - The required annual filing with FAC was not made by the required deadline of June 30, 2025. Cause - Delay in the engagement of an independent auditor to begin the single audit. Effect - A delay in the audit for fiscal year ended September 30, 2024 resulted in the FAC deadline being missed. Untimely filing hinders the timely administration and assessment of results by grantor officials. Recommendation - We recommend that the School should implement formal internal control policies and procedures to rectify the conditions noted above. Management response - See corrective action plan provided by the Head of School.
Finding 2024-002
Criteria - Title 2 CFR 200.305 of the Uniform Guidance requires that program costs be paid with recipient or subrecipient funds before requesting reimbursement from the federal government or pass-through entity. When awards provide for advance payments, recipients must follow procedures to minimize the time between drawdown of funds from the U.S. Treasury and expenditure of funds by the recipient or subrecipient. Condition - During the audit for the year ended September 30, 2024, we noted three instances of reimbursements requested from the pass-through entity for expenditures that were not paid prior to the request. The School subsequently made payments to the vendors in August 2025. Cause - Funds were requested to reimburse for School expenditures that were not paid to vendors. Questioned costs - $7,180. Effect - The School did not minimize the time between the drawdown of funds and the disbursement of funds to the vendors. Recommendation - We recommend that the School should implement adequate policies and procedures to ensure requests for drawdowns are reimbursements of program expenditures and, when the drawdown is an advance payment, the time period between the drawdown of funds and the use of the funds is minimized. Management response - See corrective action plan provided by the Head of School.