FAC Explorer

Audit 370354

FY End
2022-12-31
Total Expended
$4.35M
Findings
1
Programs
1
Organization: Curry Water Authority (AL)
Year: 2022 Accepted: 2025-10-02
Auditor: Darrell W Wates CPA PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1159812 2022-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
66.468 Drinking Water State Revolving Fund $4.35M Yes 1

Contacts

Name Title Type
CUZUNBQNJBB5 Billy Bennett Auditee
2052214164 Darrell Wates Auditor
No contacts on file

Notes to SEFA

For the purposes of this schedule, the entity is defined as the Curry Water Authority. This schedule does not include any activities of any other entities. 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, Cost Principles, and Audit Requirements for federal Awards (Uniform Guidance). Since the schedule presents only a select 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. Note 2
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority under programs of the federal government for the year ended December 31, 2021 presented on the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the related Fund liability is incurred. The Authority elected not to utilize the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No subrecipients were involved during this year.

Finding Details

Finding 2022-001
Section 4.5 of the Water Revenue Bond Series 2020-DWSRF-DL states: “The Loan Recipient shall comply with the provisions of the federal Single Audit Act and Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly called "Uniform Guidance"). Audit Requirements must be conducted according to Generally Accepted Accounting Principles as defined by the Governmental Accounting Standards Board and revisions, updates or successors.” The Authority failed to obtain an audit in accordance with the Single Audit Act within nine months after the end of the entity’s fiscal year, as required. The Authority contracted with an independent certified public accountant who conducted and issued the audit under generally accepted auditing standards. It was not until some time later when the Authority changed accounting firms that the issue was discovered and the audit was reperformed.