FAC Explorer

Audit 388400

FY End
2022-12-31
Total Expended
$4.14M
Findings
4
Programs
1
Organization: Insight Chicago, Inc. (IL)
Year: 2022 Accepted: 2026-02-20
Auditor: RSM US LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1174834 2022-004 Material Weakness Yes A
1174835 2022-005 Material Weakness Yes I
1174836 2022-004 Material Weakness Yes A
1174837 2022-005 Material Weakness Yes I

Programs

ALN Program Spent Major Findings
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $2.08M Yes 2

Contacts

Name Title Type
JQV3YFCJ8H94 Atiq Nakrawala Auditee
8104843033 Mike Coppa Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Insight Chicago, Inc. (the Company) under programs of the federal government for the year ended December 31, 2022. The information in the 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 the operations of the Company, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Company.
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.
The Company has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Of the federal expenditures presented in the Schedule, the Company did not provide any amounts to subrecipients.
The Company did not receive any non-cash assistance during the year ended December 31, 2022. There were no federal awards expended for insurance or any loans or loan guarantees outstanding as of December 31, 2022.

Finding Details

Finding 2022-004
Assistance Listing Number 21.027 - COVID-19 – Coronavirus State and Local Fiscal Recovery Funds - U.S. Department of Treasury - Federal award identification number – 38080716K and ARPA100007 - Federal award year – 2022 and 2023 Significant Deficiency Criteria: Uniform Guidance (2 CFR 200.303) requires non-federal entities receiving Federal awards to establish and maintain internal controls over federal awards to ensure compliance with applicable laws, regulations, and the terms and conditions of the award. This includes maintaining documentation that evidences the design and operating effectiveness of control activities, such as supervisory reviews and approvals related to allowable costs and program compliance. Condition: The Company was not able to evidence the review and approval of non-payroll expenses incurred in connection with the Coronavirus State and Local Fiscal Recovery Funds grant program. Cause: The Company did not implement procedures to retain documentation evidencing the performance of specific internal control activities over compliance. Effect: There is an increased risk of improper use of grant funds. Questioned costs: None. Context: The Company could not provide evidence of review and approval of non-payroll expenditures for the program totaling $5,008 of the total $4,144,691 on the schedule of expenditures of Federal awards. Identification as a repeat finding, if applicable: This is not a repeat finding. Recommendation: We recommend management review current processes, polices and procedures to ensure evidence of review and approval of activities allowed or unallowed and adherence to applicable cost principles is properly maintained. View of responsible officials and planned corrective actions: Management agrees with the finding and recommendation.
Finding 2022-005
Identification of the federal program: Assistance Listing Number 21.027 - COVID-19 – Coronavirus State and Local Fiscal Recovery Funds - U.S. Department of Treasury - Federal award identification number – 38080716K and ARPA100007 - Federal award year – 2022 and 2023 Significant Deficiency Criteria: Non Federal entities must not enter into covered transactions with parties that are debarred, suspended, or otherwise excluded. Entities must follow the procurement, suspension and debarment regulations in accordance with 2 CFR Part 180. Condition: The Company was not able to evidence its verification that vendors paid in connection with the Coronavirus State and Local Fiscal Recovery Funds program were not suspended or debarred. Cause: The Company did not implement procedures to retain documentation evidencing the performance of specific internal control activities over compliance. Effect: There is an increased risk of improper use of grant funds. Questioned costs: None. Context: The Company could not provide evidence of suspension and debarment review for program expenditures totaling $2,060,319 of the total $4,144,691 on the schedule of expenditures of Federal awards. Identification as a repeat finding, if applicable: This is not a repeat finding. Recommendation: We recommend management review current processes, polices and procedures to ensure evidence of suspension and debarment verification is properly maintained. View of responsible officials and planned corrective actions: Management agrees with the finding and recommendation.