FAC Explorer

Audit 377633

FY End
2024-12-31
Total Expended
$2.91M
Findings
1
Programs
1
Organization: Sturgeon Bay Historical Society Foundation Inc (WI)
Year: 2024 Accepted: 2025-12-25
Auditor: KERBERROSE SC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1166659 2024-004 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
10.766 COMMUNITY FACILITIES LOANS AND GRANTS $2.91M Yes 1

Contacts

Name Title Type
FPBHCDF1CZK3 Matt Young Auditee
9204953779 Karen Kerber Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a select portion of operations of the Organization, it is not intended to, and does not, present the financial position, change in net position, or cash flows of the Organization
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.
Sturgeon Bay Historical Society, Inc. did not use the 10% de minimis cost rate.
Of the federal expenditures presented in the schedule, Sturgeon Bay Historical Society Inc. provided no federal awards to subrecipients.
The Organization’s state oversight agency is the United States Department of Agriculture.

Finding Details

Finding 2024-004
Condition For the year ended June 30, 2023, the Organization did not submit their federal single audit no later than nine months after the year-end. Criteria The federal single audit is required to be submitted no later than nine months after the year-end. Cause There were financial reporting challenges during the year which did not allow for accumulation of the required information to complete the audit timely. Effect The Organization could be at risk for loss of funding if the single audit requirements are not met. Recommendation We recommend that the Organization accumulate the required information during the year and perform reconciliations in a timely manner to facilitate timely reporting. Management’s Response The Organization is working on improving its processes in order to meet the reporting requirements. Anticipated Completion Date This finding will not completely resolve itself given the cost/benefits basis the Organization continues to make. Responsible Official Nicole Matson, Interim Executive Director