FAC Explorer

Audit 399418

FY End
2025-06-30
Total Expended
$1.94M
Findings
6
Programs
1
Organization: Industrial Development Authority of the City of Danville, Virginia (VA)
Year: 2025 Accepted: 2026-04-22
Auditor: BROWN EDWARDS & COMPANY LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1208442 2025-002 Material Weakness Yes L
1208443 2025-002 Material Weakness Yes L
1208444 2025-003 Material Weakness Yes P
1208445 2025-003 Material Weakness Yes P
1208446 2025-004 Material Weakness Yes H
1208447 2025-004 Material Weakness Yes H

Programs

ALN Program Spent Major Findings
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $485,256 Yes 3

Contacts

Name Title Type
TPARDDKAVR45 Michael Adkins Auditee
4347995186 Susan Chapman Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of federal expenditures includes the activity of all federally assisted programs of the Industrial Development Authority of Danville, Virginia and is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on this schedule.
The entity did not elect to use the 10% de minimis indirect cost rate.
At June 30, 2025, the Industrial Development Authority had no outstanding loan balances requiring continuing disclosure.

Finding Details

Finding 2025-002
Condition The Authority did not file the required quarterly reports by the due date. Criteria Under the requirements in the contract with the pass-through entity, the Authority is required to provide quarterly progress reports. Cause The Authority does not have a process in place to ensure reports are timely filed. Effect The lack of timely reports results in the Authority being out of compliance with reporting requirements of the pass-through entity. Recommendation Steps should be taken to ensure that these reports are filed and in a timely manner. View of Responsible Officials and Planned Corrective Action The auditee concurs with the recommendation.
Finding 2025-003
Condition The Authority did not file the required data collection form for the June 30, 2024 fiscal year by the due date. Criteria Under the requirements of the Federal Audit Clearinghouse, the Authority is required to file the Data Collection Form by the earlier of 30 days after receipt of the auditor’s report or 9 months after the end of the fiscal year. Cause The Authority had not used federal funds for several years and no one had an administrative role to reactivate the lapsed Unique Entity ID to file the Data Collection Form with the Federal Audit Clearinghouse. Effect The lack of timely filing the Data Collection Form results in the Authority being out of compliance with filing requirements of the Federal Audit Clearinghouse. Recommendation Steps should be taken to ensure that there is someone at the Authority that has an administrative role.View of Responsible Officials and Planned Corrective Action The auditee concurs with the recommendation.
Finding 2025-004
Condition The Authority did not detect funds used for grantee expenditures that were outside the period of performance. Criteria Under the requirements of the federal grant program, the Authority may use funds only to cover costs incurred during the period beginning March 3, 2021 and ending December 31, 2024. Cause The Authority did not examine expenditures to ensure they were incurred during the period of performance.Effect The Authority was out of compliance with period of performance requirements of the federal program. The Authority was able to replace the expenditures with those inside the period of performance. Recommendation Steps should be taken to ensure that expenditures are incurred within the period of performance. View of Responsible Officials and Planned Corrective Action The auditee concurs with the recommendation.