FAC Explorer

Audit 398057

FY End
2024-12-31
Total Expended
$2.23M
Findings
1
Programs
1
Organization: Delaware Academy of Medicine, Inc. (DE)
Year: 2024 Accepted: 2026-04-08
Auditor: WHEELER WOLFENDEN AND DWARES P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1206105 2024-001 Material Weakness Yes AB

Programs

ALN Program Spent Major Findings
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $2.23M Yes 1

Contacts

Name Title Type
MFXFFJQ5A2A5 Kate Smith Auditee
3027335571 Kathleen Corcoran Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Coronavirus State and Local Fiscal Recovery Funds Expenditures (The Schedule) includes the federal grant activity of Delaware Academy of Medicine, Inc. and Supporting Organizations under Assistance Listing Number 21.027 for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirements of the U.S. Department of the Treasury Coronavirus State and Local Fiscal Recovery Funds Compliance Supplement.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Delaware Academy of Medicine, Inc. and Supporting Organizations has elected to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.

Finding Details

Finding 2024-001
Condition: For the year ended December 31, 2024, the Academy’s allowable indirect costs were limited to $677,264 based on total modified direct costs. Based on results of procedures, $265,687 of indirect costs were charged to the grant during the year ended December 31, 2024. Criteria: The Academy correctly embedded a 10% allowable rate in its contract. However, as defined by 2 CFR Section 200, total modified direct costs equal total direct costs less all but $25,000 of subawards (regardless of the period of performance of the subaward). Cause: The Academy did not properly calculate allowable indirect costs under the grant award during the year ended December 31, 2024. Effect: Amounts charged to the contract exceed allowable costs by $197,961, prior to correction. Recommendation: Management should develop procedures to calculate allowable indirect costs under its awards.