FAC Explorer

Audit 38064

FY End
2022-06-30
Total Expended
$2.07M
Findings
2
Programs
1
Organization: Tulsa Performing Arts Center Trust (OK)
Year: 2022 Accepted: 2022-11-01
Auditor: Hogantaylor LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
39291 2022-001 Significant Deficiency - H
615733 2022-001 Significant Deficiency - H

Programs

ALN Program Spent Major Findings
59.075 Shuttered Venue Operators Grant Program $2.07M Yes 1

Contacts

Name Title Type
E7T3HNDQNNN8 Jennifer Alden Auditee
9185967128 Jack Murray Auditor
No contacts on file

Notes to SEFA

Title: Summary of Significant Accounting Policies Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Tulsa Performing Arts Center Trust under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of Tulsa Performing Arts Center Trust, it is not intended and does not represent the financial position, changes in net assets, functional expenses or cash flows of the Tulsa Performing Arts Center Trust. De Minimis Rate Used: N Rate Explanation: Tulsa Performing Arts Center Trust has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.

Finding Details

Finding 2022-001
Item 2022-001 ? Period of Performance: Lack of internal controls Federal Program ? U.S. Small Business Administration Covid-19-Shuttered Venue Operators Grant Program CFDA Number ? 59.075 Significant deficiency Criteria: Recipients that receive an initial SVOG award will be able to spend award funds over a 12-month period after the award issuance date for eligible and allowable costs incurred between March 1, 2020, and December 31, 2021. Recipients that receive a supplemental award will be able to spend all award funds (both initial and supplemental phase awards) received over an 18-month period after the initial phase award issuance date for eligible and allowable costs incurred between March 1, 2020, and June 30, 2022 (Eligible Cost Period). Condition/context: It was identified that Tulsa Performing Arts Center lacked sufficient controls to ensure the items charged to the grant were accurately reported in the correct period in accordance with grant requirements. Cause: Tulsa Performing Arts Center lacked sufficient controls for period of performance. Effect: Charges could have occurred outside of the period of performance and charged to the grant. Recommendation: Each charge to the grant should be reviewed by management to ensure the expenditure was incurred in the period of performance and such review must be documented. View of responsible officials: Management's response is reported in "Management's Views and Corrective Action Plan" at the end of this report.
Finding 2022-001
Item 2022-001 ? Period of Performance: Lack of internal controls Federal Program ? U.S. Small Business Administration Covid-19-Shuttered Venue Operators Grant Program CFDA Number ? 59.075 Significant deficiency Criteria: Recipients that receive an initial SVOG award will be able to spend award funds over a 12-month period after the award issuance date for eligible and allowable costs incurred between March 1, 2020, and December 31, 2021. Recipients that receive a supplemental award will be able to spend all award funds (both initial and supplemental phase awards) received over an 18-month period after the initial phase award issuance date for eligible and allowable costs incurred between March 1, 2020, and June 30, 2022 (Eligible Cost Period). Condition/context: It was identified that Tulsa Performing Arts Center lacked sufficient controls to ensure the items charged to the grant were accurately reported in the correct period in accordance with grant requirements. Cause: Tulsa Performing Arts Center lacked sufficient controls for period of performance. Effect: Charges could have occurred outside of the period of performance and charged to the grant. Recommendation: Each charge to the grant should be reviewed by management to ensure the expenditure was incurred in the period of performance and such review must be documented. View of responsible officials: Management's response is reported in "Management's Views and Corrective Action Plan" at the end of this report.