FAC Explorer

Audit 397020

FY End
2025-06-30
Total Expended
$998,029
Findings
1
Programs
1
Organization: Town of Beverly, West Virginia (WV)
Year: 2025 Accepted: 2026-03-31
Auditor: TETRICK & BARTLETT PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1205311 2025-006 Material Weakness Yes F

Programs

ALN Program Spent Major Findings
11.307 ECONOMIC ADJUSTMENT ASSISTANCE $998,029 Yes 1

Contacts

Name Title Type
WCKBF7L4DGB5 Anita Gilroy Auditee
3046365360 David A. Shriver Auditor
No contacts on file

Notes to SEFA

THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES THE FEDERAL AWARD ACTIVITY OF TOWN OF BEVERLY, WEST VIRGINIA UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE FISCAL YEAR ENDED JUNE 30, 2025. 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 TOWN OF BEVERLY, WEST VIRGINIA, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET POSITION, OR CASH FLOWS OF TOWN OF BEVERLY, WEST VIRGINIA.
EXPENDITURES REPORTED ON THE SCHEDULLE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN THE UNIFORM GUIDANCE AND OMB CIRCULAR A-87, COST PRINCIPLES FOR STATE, LOCAL, AND INDIAN TRIBAL GOVERNMENTS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
TOWN OF BEVERLY, WEST VIRGINIA HAS ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE
THERE WERE NO AWARDS PASSED THROUGH TO SUBRECIPIENTS.
ASSISTANCE LISTING (AL) HAS REPLACED THE CATALOG OF FEDERAL DOMESTIC ASSISTANCE (CFDA) FOR IDENTIFYING FEDERAL PROGRAMS.

Finding Details

Finding 2025-006
CAPITAL ASSET DETAIL - CRITERIA: STRONG INTERNAL CONTROL REQUIRES THAT A DETAILED LISTING OF CAPITAL ASSETS BE MAINTAINED. A DETAILED LISTING OF CAPITAL ASSETS WITH ORIGINAL COST AMOUNTS IS ESSENTIAL TO THE ACCURATE COMPUTATION OF DEPRECIATION EXPENSE. CONDITION: THE TOWN AND UTILITY BOARDS FAILED TO MAINTAIN A DETAILED LISTING OF CAPITAL ASSETS THAT HAVE HISTORICAL COST AMOUNTS. CAUSE: HISTORICAL RECORDS OF THE TOWN AND UTILITY BOARDS ARE INSUFFICIENT TO REGENERATE A DETAILED LISTING OF CAPITAL ASSETS THAT CORRESPOND TO THE ACCOUNT BALANCES CARRIED BY THE TOWN AND UTILITY BOARDS TO THEIR GENERAL LEDGER. EFFECT: THE EFFECT OF THIS CONDITION IS THAT INTERNAL CONTROL OVER CAPITAL ASSETS IS WEAKENED. RECOMMENDATION: THE TOWN AND UTILITY BOARDS SHOULD CONDUCT A THOROUGH INVENTORY OF ALL CAPITAL ASSETS. ONCE COMPLETED, THE INVENTORY SHOULD BE USED TO COMPLETE A DETAILED LISTING OF ALL CAPITAL ASSETS AND THIS LISTING AGREED TO THE APPROPRIATE GENERAL LEDGER ACCOUNTS. VIEW OF RESPONSIBLE OFFICIALS AND PLANNED CORRECTIVE ACTION: MANAGEMENT HAS STATED THAT THEY WILL CREATE A COMPLETE DETAILED LISTING OF ALL CAPITAL ASSETS AND DEPRECIATION SCHEDULE; HOWEVER, RECORDS OF THE TOWN AND UTILITY BOARDS ARE INSUFFICIENT TO ALLOW MANAGEMENT TO COMPARE IT TO EXISTING INFORMATION IN THE ACCOUNTING RECORDS.