FAC Explorer

Audit 405766

FY End
2025-12-31
Total Expended
$2.18M
Findings
1
Programs
1
Organization: Rapid Valley Sanitary District Water Service (SD)
Year: 2025 Accepted: 2026-06-30
Auditor: KETEL THORSTENSON LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1221481 2025-002 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $2.18M Yes 1

Contacts

Name Title Type
L1C9JGRALZ95 Rusty Schmidt Auditee
6053931050 Traci Hanson 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 District 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 District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. 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.
The District did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2025-002
2025-002 Finding: Preparation of Financial Statement and Schedule of Expenditures of Federal Awards (SEFA) Federal Program Affected: ALN #21.027 Compliance Requirement: Reporting Questioned Costs: None Condition and Cause: As a matter of practicality and efficiency, we have assisted in drafting the financial statements and SEFA in both form and content, based on information provided by management during the audit. Criteria and Effect: Management and those charged with governance are ultimately responsible for preparing and presenting the financial statements and SEFA in accordance with the applicable financial reporting framework. The auditor’s responsibility for the financial statements and SEFA is to express an opinion on them based on the audit evidence obtained. Repeat Finding from Prior Year: Yes, prior year finding #2024-002. Recommendation: Management and if applicable, governance, should review the financial statements and SEFA for accuracy of account balances and context of note disclosures. Management and governance should inquire of the auditors about any balances or disclosures which management does not understand or cannot reconcile to internal records prior to signing the management representation letter. Response/Corrective Action Plan: The District agrees with the above finding. See Corrective Action Plan.