FAC Explorer

Audit 367985

FY End
2024-12-31
Total Expended
$3.21M
Findings
1
Programs
1
Organization: Trinidad Ambulance District (CO)
Year: 2024 Accepted: 2025-09-26
Auditor: Biggskofford

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1155697 2024-003 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
10.766 Community Facilities Loans and Grants $3.21M Yes 1

Contacts

Name Title Type
KQT9C2G5LVF7 Gabriel Moreno Auditee
7198466886 Tyler Atkins Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards ("SEFA") includes the federal award activity of Trinidad Ambulance District ("District") 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 the District, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the District. If the District is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
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.
The District has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Federal awards expended during the year consist solely of a Community Facilities loan in the amount of $3,207,000 (see Note 5).
The federal financial assistance from the U.S. Department of Agriculture, Community Facility loans, is in the form of an interest-bearing loan to be repaid in accordance with the terms of the agreement. The total outstanding loan balance reported on the schedule of expenditures of federal awards is as follows: Outstanding loan balance at December 31, 2023 $0 Outstanding loan balance at December 31, 2024 $3,207,000

Finding Details

Finding 2024-003
USDA Community Facilities Loan Reserve Accounts Material Weakness U.S. Department of Agriculture ALN #: 10.766 Community Facilities Loans and Grants Cluster Federal Award Identification #: CPAP000001205294 Condition: Under the District's USDA Community Facilities loan agreement, the District is required to administer a loan reserve account and a capital asset replacement reserve in which monthly deposits are to be made until the minimum reserve amounts are reached. Criteria: 37 CFR 1942.17(i) Questioned Costs: $0 Context: The District was not properly administering the loan and capital asset replacement reserve accounts as outlined in their USDA loan agreement. Cause: There was oversight by management of the applicable reserve requirements as contained in the loan agreement. Effect: The District did not fund the applicable reserve accounts for the year ended December 31, 2024. Recommendation: We recommend the District review the requirements and establish the minimum reserve funds in future periods as outlined in the loan agreement. View of Responsible Offical and Planned Corrective Action: Management agrees with the finding. See corrective action plan.