FAC Explorer

Audit 373919

FY End
2024-06-30
Total Expended
$1.28M
Findings
1
Programs
3
Organization: Knowledge Quest, Inc. (TN)
Year: 2024 Accepted: 2025-12-10
Auditor: LUTHER SPEIGHT AND COMPANY CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1164440 2024-004 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
93.558 TEMPORARY ASSISTANCE FOR NEEDY FAMILIES $1.06M Yes 1
84.287 TWENTY-FIRST CENTURY COMMUNITY LEARNING CENTERS $121,712 Yes 0
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $100,000 Yes 0

Contacts

Name Title Type
JNB2CD6Q9WM9 Marlon Foster Auditee
9019421512 Luther Speight Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Knowledge Quest, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The accompanying Schedule of Expenditures of Federal Awards covers the fiscal year ended June 30, 2024.
During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis cost rate
The Organization did not expend federal awards related to loans or loan guarantees during the year ended June 30, 2024. The Organization had no loans outstanding from federal awards at the year ended June 30, 2024.
The Organization has no federally funded insurance.
The Organization did not receive any federal noncash assistance for the year ended June 30, 2024.

Finding Details

Finding 2024-004
CRITERIA: 2 CFR requires that non-Federal entities that expend $750,000 or more in a year in Federal awards must submit their audited annual financial reports and the data collection form to the Federal Audit Clearinghouse within thirty (30) days after receipt of the auditor’s report, or nine (9) months of the close of the auditee’s fiscal year. CONDITION: The Organization did not remit the annual audited financial statements and the data collection form to the Federal Audit Clearinghouse within 9 months after year-end as required by the Uniform Guidance. CAUSE: The Organization experienced turnover in a key management position, which caused a delay in the performance, completion, and submission of the annual audit report. The 2023 audit report was not issued until August 2025. EFFECT: Late submission can result in withholding of federal funding. RECOMMENDATION: The Organization should implement policies and procedures to ensure the timely filing of any and all required reports. MANAGEMENT’S RESPONSE: See management’s corrective action plan starting on page 30.