FAC Explorer

Audit 366161

FY End
2024-12-31
Total Expended
$1.08M
Findings
8
Programs
1
Organization: Fayette County Airport Authority (PA)
Year: 2024 Accepted: 2025-09-12
Auditor: McClure and Wolf LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
576246 2024-001 Significant Deficiency - B
576247 2024-001 Significant Deficiency - B
576248 2024-001 Significant Deficiency - B
576249 2024-001 Significant Deficiency - B
1152688 2024-001 Significant Deficiency - B
1152689 2024-001 Significant Deficiency - B
1152690 2024-001 Significant Deficiency - B
1152691 2024-001 Significant Deficiency - B

Programs

ALN Program Spent Major Findings
20.106 Airport Improvement Program, Covid-19 Airports Programs, and Infrastructure Investment and Jobs Act Programs $38,732 Yes 1

Contacts

Name Title Type
UBPVJK4KQM71 John Neckerauer Auditee
7246282276 Clayton E. Gregg IV Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Fayette County Airport Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the De Minimis rate for indirect costs. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Authority 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Fayette County Airport Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the De Minimis rate for indirect costs. The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Fayette County Airport Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: PASS-THROUGH FUNDING Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Fayette County Airport Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the De Minimis rate for indirect costs. No funds were passed through to subrecipients for the year ended December 31, 2024.
Title: DE MINIMIS RATE FOR INDIRECT COSTS Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Fayette County Airport Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the De Minimis rate for indirect costs. The Authority did not elect to use the De Minimis rate for indirect costs

Finding Details

Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.
Finding 2024-001
Lack of Segregation of Duties: Criteria: Management is responsible for establishing and maintaining effective internal control to ensure that transactions are authorized and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Condition: A majority of the Authority’s transactions are processed and recorded by a single office manager. Cause: Due to budget restraints, it has historically not been cost effective for the Authority to hire additional office staff to allow for an appropriate segregation of duties. Effect: The lack of segregation of duties creates a significant deficiency in the control environment which may not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. Recommendation: Board members should increase their involvement in day-to-day activities of the Authority and consider hiring additional office staff. Views of responsible officials and corrective action: The Authority acknowledges this finding. The Board will discuss the possibility of utilizing additional board members or hiring additional staff to assist the office manager.