FAC Explorer

Audit 386230

FY End
2025-06-30
Total Expended
$1.93M
Findings
2
Programs
7
Organization: Snowy Mountain Development Corporation (MT)
Year: 2025 Accepted: 2026-02-09
Auditor: CARVER FLOREK & JAMES CPA'S

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1172855 2025-001 Material Weakness Yes N
1172856 2025-002 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
66.818 BROWNFIELDS MULTIPURPOSE, ASSESSMENT, REVOLVING LOAN FUND, AND CLEANUP COOPERATIVE AGREEMENTS $912,253 Yes 2
10.767 INTERMEDIARY RELENDING PROGRAM $464,514 Yes 0
11.307 ECONOMIC ADJUSTMENT ASSISTANCE $275,690 Yes 0
12.002 PROCUREMENT TECHNICAL ASSISTANCE FOR BUSINESS FIRMS $159,330 Yes 0
11.302 ECONOMIC DEVELOPMENT SUPPORT FOR PLANNING ORGANIZATIONS $70,000 Yes 0
10.170 SPECIALTY CROP BLOCK GRANT PROGRAM - FARM BILL $25,603 Yes 0
15.228 BLM FUELS MANAGEMENT AND COMMUNITY FIRE ASSISTANCE PROGRAM ACTIVITIES $21,128 Yes 0

Contacts

Name Title Type
EDPNNKARXDY3 Sara Hudson Auditee
4065352591 Keegan Witt Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Snowy Mountain Development Corporation under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Snowy Mountain Development Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Snowy Mountain Development Corporation.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Snowy Mountain Development Corporation has not elected to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were $280,813.

Finding Details

Finding 2025-001
2025 – 001 SF-425 FINANCIAL REPORT LATE SUBMISSION – NONCOMPLIANCE Criteria: All reports must be submitted prior to the allowable date to be in compliance with program requirements. Condition: During our testing of the Brownfields Revolving Loan Fund, we found that SMDC did not submit the annual SF-425 within the submission date required. Cause: The annual requirement of the SF-425 was just established during the fiscal year and SMDC was unaware of change. Effect: SMDC did not follow the applicable compliance filing requirement. Recommendation: We recommend that SMDC develop a method of ensuring all reports meet the required deadlines, and that any funding requirements that change are communicated through the management structure.
Finding 2025-002
2025 – 002 AUDIT SUBMISSIONS TO THE FEDERAL AUDIT CLEARNINGHOUSE – NONCOMPLIANCE Criteria: Single Audits under 2 CFR 200 Subpart F 200.501 – Audit Requirements are required to be submitted through the Federal Clearinghouse nine months from the recipient’s year end. Condition: The Organization was not able to meet the nine-month submission deadline. Cause: It appears that the late submission was a result of the prior auditor’s unresponsiveness. Effect: The Organization did not comply with the audit requirements set forth in 2 CFR 200 Subpart F. Recommendation: We recommend that the Organization submit the required information to the auditors in a timely manner to assist in meeting the filing deadline.