FAC Explorer

Audit 372617

FY End
2024-06-30
Total Expended
$1.23M
Findings
1
Programs
1
Organization: Town of Maysville (NC)
Year: 2024 Accepted: 2025-11-26
Auditor: S PRESTON DOUGLAS AND ASSOCIATES LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1163052 2024-004 Material Weakness Yes A

Programs

ALN Program Spent Major Findings
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $1.23M Yes 1

Contacts

Name Title Type
XAQMSVLJ3JC5 Demetrius Jones Auditee
9107434441 Lee Grissom Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of Federal and State awards (SEFSA) includes the federal and State grant activity of the Town of Maysville under the programs of the federal government and the State of North Carolina for the year ended June 30, 2024. The information in this SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of the Town of Maysville, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Town of Maysville.
Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Town of Maysville has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-004
Criteria: A federal single audit must be submitted to the Federal Audit Clearinghouse (FAC) nine months from the Town’s June 30 fiscal year end. Condition: The June 30 audit for 2024 audit was not submitted to the FAC as of October 31, 2024. Effect: By submitting the FAC late, the Federal Government does not receive important, timely feedback documented in the independent auditor’s reports such as internal control deficiencies related to compliance requirements for federal single audits. Cause: The Town experienced significant staffing challenges during the audit period, including high turnover and prolonged vacancies in the Finance Officer position. These personnel disruptions hindered the Town’s ability to compile and review the necessary financial information in a timely manner, ultimately delaying the completion and submission of the audit to the Federal Audit Clearinghouse. Repeat Finding: This is a repeat finding from the immediate previous audit, 2024-007. Recommendation: The Town should make the necessary adjustments to meet the FAC deadlines. Views of responsible officials and planned corrective actions: The Town agrees with the finding and agrees to adhere to the correction action plan on page