FAC Explorer

Audit 369253

FY End
2024-12-31
Total Expended
$820,036
Findings
1
Programs
3
Organization: The Maggie Walker Community Land Trust (VA)
Year: 2024 Accepted: 2025-09-30
Auditor: Keiter

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1156911 2024-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $606,991 Yes 1
10.935 Urban Agriculture and Innovative Production $77,806 Yes 0
14.252 Section 4 Capacity Building for Community Development and Affordable Housing $18,750 Yes 0

Contacts

Name Title Type
G1D4L8BFBLH3 Dr. Mae Worthey-Thomas Auditee
8047188915 Amy Rybar Menefee Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal grant activity of Maggie Walker Community Land Trust and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The amounts shown as current year expenditures represent only the federal portion of the actual program costs. Actual program costs, including the Organization’s portion, may be more than shown.
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.
Maggie Walker Community Land Trust has elected not to use the 15% de minimis indirect cost rate.

Finding Details

Finding 2024-001
Criteria: A monthly report is required to be submitted to the grantor and includes a narrative description of the previous month’s construction activity and any home sales. Condition: The December 2024 report was not filed with the pass-through grantor for one locality. Cause: The Organization has a small staff and there was turnover in the construction manager position who was the individual responsible for submitting the report. Other members of the Organization were not aware of the filing requirement at the time of submission. Possible Asserted Effect: There is potential for records to be inaccurate which could impact future reimbursements.Questioned Cost Amount: None noted.Perspective Information: Based on other testing performed, the lack of monthly reporting for one locality appears to be an isolated instance.Repeat Finding: This is not a repeat finding.Recommendation: We recommend that enhanced controls are put into place to ensure reports are filed timely with grantors and that all members of the executive team are aware of required reporting.Views of Responsible Officials and Planned Corrective Action: The Organization agrees with this finding. See auditee’s corrective action plan.