FAC Explorer

Audit 38171

FY End
2022-06-30
Total Expended
$4.85M
Findings
2
Programs
1
Organization: Great Falls International Airport Authority (MT)
Year: 2022 Accepted: 2023-03-29
Auditor: Kcoe Isom LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
41642 2022-002 Material Weakness - B
618084 2022-002 Material Weakness - B

Programs

ALN Program Spent Major Findings
20.106 Airport Improvement Program $1.03M Yes 0

Contacts

Name Title Type
VGLHH8NPF8W1 Chayleen Person Auditee
4067273404 Megan Connors Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying Schedule of Expenditure of Federal Awards presents the activity of all federal financial assistance of Great Falls International Airport Authority, Great Falls, Montana. The Airport Authoritys reporting entity is defined in Note 1 to the Airport Authoritys financial statements. Federal financial assistance received directly from federal agencies is included in the schedule. No federal financial assistance received was passed through other government agencies. The accompanying Schedule of Expenditure of Federal Awards is presented using the modified accrual basis of accounting. Projects where expenditures and timing could not be appropriately determined or estimated will be recorded when they can be reasonably estimated or are known. The information in this schedule is presented in accordance with the requirements of Uniform Guidance. Therefore, some of the amounts presented in this schedule may differ from amounts presented or used in the preparation of the general purpose financial statements. The accompanying Schedule of Expenditure of Federal Awards is presented using the cost principles from Title 2 U.S. Code of Federal Regulations Part 200, Uniform Guidance Administrative Requirements, Subpart E Cost Principles. De Minimis Rate Used: N Rate Explanation: The Airport Authority did not elect to use the 10% de minimus indirect cost rate from Title 2 U.S. Code of Federal Regulations Part 200, Uniform Guidance Administrative Requirements, Subpart E Cost Principles.

Finding Details

Finding 2022-002
Finding #2022-002 ? Grant Program: Department of Transportation Airport Improvement Program ? Assistance Listing #20.106 Criteria: In accordance with 2 CFR 200.403(f), a cost is not allowable under a federal program if it is included as a cost or used to meet cost sharing or matching requirements of any other federally-financed program in either the current or a prior period. Condition & Context: As a result of our audit procedures, we noted amounts previously reimbursed for February through May 2020 payroll under AIP 69 (CARES Act) in the fiscal year ended June 30, 2020 were also reimbursed under AIP 73 (ARPA) during the year ended June 30, 2022. Cause: Lack of procedures related to monitoring and review of reimbursement requests. Effect: $414,761 of expenditures were removed from the Schedule of Expenditures of Federal Awards. Additionally, an audit adjustment was proposed to adjust the previously reported grant revenue to deferred revenue as of June 30, 2022. Recommendation: We recommend management develop a system of reviewing and monitoring reimbursement requests to ensure that expenditures previously reimbursed under federal funding with similar allowable activities are not included in future requests. Management Response: See Corrective Action Plan.
Finding 2022-002
Finding #2022-002 ? Grant Program: Department of Transportation Airport Improvement Program ? Assistance Listing #20.106 Criteria: In accordance with 2 CFR 200.403(f), a cost is not allowable under a federal program if it is included as a cost or used to meet cost sharing or matching requirements of any other federally-financed program in either the current or a prior period. Condition & Context: As a result of our audit procedures, we noted amounts previously reimbursed for February through May 2020 payroll under AIP 69 (CARES Act) in the fiscal year ended June 30, 2020 were also reimbursed under AIP 73 (ARPA) during the year ended June 30, 2022. Cause: Lack of procedures related to monitoring and review of reimbursement requests. Effect: $414,761 of expenditures were removed from the Schedule of Expenditures of Federal Awards. Additionally, an audit adjustment was proposed to adjust the previously reported grant revenue to deferred revenue as of June 30, 2022. Recommendation: We recommend management develop a system of reviewing and monitoring reimbursement requests to ensure that expenditures previously reimbursed under federal funding with similar allowable activities are not included in future requests. Management Response: See Corrective Action Plan.