FAC Explorer

Audit 397953

FY End
2025-12-31
Total Expended
$7.72M
Findings
1
Programs
3
Organization: Ida County Iowa Community Hospital D/b/a Horn Memorial Hospital (IA)
Year: 2025 Accepted: 2026-04-07
Auditor: EIDE BAILLY LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1206069 2025-003 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
10.766 COMMUNITY FACILITIES LOANS AND GRANTS $7.70M Yes 1
93.268 IMMUNIZATION COOPERATIVE AGREEMENTS $7,633 Yes 0
93.069 PUBLIC HEALTH EMERGENCY PREPAREDNESS $5,066 Yes 0

Contacts

Name Title Type
XE4KSDQ2U5L3 Nik Brimeyer Auditee
7123643311 Jeremy Behrens Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Hospital under programs of the federal government for the year ended December 31, 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 the Hospital, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Hospital.
Expenditures reported in the Schedule consist of the beginning of the year outstanding loan balance plus advances made on the loan during the year. The balance of loan outstanding at December 31, 2025 consists of: 10.766 - U.S. Department of Agriculture - Community Facilities Loans and Grants - $6,674,019

Finding Details

Finding 2025-003
Criteria: CFR 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and conditions of the federal award. The loan resolution security agreement states the Hospital must set aside a capital asset replacement account which may be established as a bookkeeping account or as a separate bank account. Funds may be deposited in institutions insured by state and federal government or invested in marketable securities backed by the full faith and credit of the United States. Condition: The funds that represented the capital asset replacement fund were commingledwith an existing board-designated CD account. Cause: The Hospital did not maintain a separate bank account or general ledger account for the capital asset replacement fund. Effect: The capital asset replacement funds were commingled with board-designated funds within a certificate of deposit account. Questioned Costs: None reported. Context: Sampling was not used. Recommendation: We recommend that management maintain a separate bank account or general ledger account for the capital asset replacement fund. Views of Responsible Officials and Planned Corrective Action: Management agrees with the funding and will deposit the required capital asset replacement funds in either a separate bank account or general ledger account.