Audit 397567

FY End

2025-09-30

Total Expended

$17.43M

Findings

1

Programs

1

Organization: Center for the Advancement of Science in Pace (FL)

Year: 2025 Accepted: 2026-04-02

Auditor: FONTANA CPAS PA

Organization Exclusion Status:

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ID	Ref	Severity	Repeat	Requirement
1205817	2025-005	Material Weakness	Yes	C

ALN	Program	Spent	Major	Findings
43.007	SPACE OPERATIONS	$17.43M	Yes	1

Contacts

Name	Title	Type
YDQLHSMTBZ24	Ken Harris	Auditee
3216266320	Shelley Westberry	Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal activity of CASIS under programs of the federal government for the year ended September 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of CASIS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CASIS.

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. Additionally, CASIS did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended September 30, 2025.

CASIS elected not to use the 10-percent de minimums indirect cost rate allowed under Uniform Guidance.

Finding Details

Finding 2025-005

Interest Earned on Federal Funds. Criteria: 2 CFR 200.303 provides that non-federal entities must establish and maintain effective internal controls to provide reasonable assurance of compliance with Uniform Guidance. 2 CFR Section 200.305 sets forth the requirements for the return of interest earned on federal funds. Recipients of federal grants are required to establish internal controls to minimize the time that elapses between the receipt of federal funds from the grantor, and the payment of those funds to vendors who provide goods or services. Interest earnings that exceed $500 per year from excess cash balances must be paid to the federal grantor. Condition: CASIS did not calculate interest earnings on the federal cash balance to determine if any earnings should be repaid to the grantor. Cause: CASIS does not have a policy to monitor federal cash balances for cash management requirements, including the calculation of interest earnings. Effect: CASIS did not take steps to reduce the time elapsing from the date it received federal funds to the date it spent the funds on program costs. The lapse resulted in interest earned on federal funds. Questioned Costs: Fontana calculated that CASIS earned approximately $17,000 of interest on the federal funds balance for the fiscal year ended September 30, 2025. Interest earnings on federal funds of more than $500 must be returned to the grantor. Perspective: Interest was not calculated or returned to the grantor for fiscal year ended September 30, 2025. Recommendation: Fontana recommends that CASIS: o Implement controls to minimize the time between receipt of funds from the granting agency and disbursement of those funds. o Compute interest earned on advance funds and remit amounts in excess of $500 to the grantor when required.