FAC Explorer

Audit 411682

FY End
2025-12-31
Total Expended
$1.14M
Findings
1
Programs
1
Organization: Rural Development Finance Corporation (ND)
Year: 2025 Accepted: 2026-09-22
Auditor: BRADY MARTZ PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1236050 2025-002 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
10.382 MEAT AND POULTRY INTERMEDIARY LENDING PROGRAM $1.14M Yes 1

Contacts

Name Title Type
NHZZAEV13BL4 Brenna Ohman Auditee
7016676419 Ashley Engel Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Rural Development Finance Corporation (The Organization) under programs of the federal government for the year ended December 31, 2025. The information 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 Organization, it is not intended to and does not present the financial position, changes to net assets, or cash flows of the Organization.

Finding Details

Finding 2025-002
Federal Program AL 10.382 Meat and Poultry Intermediary Lending Program Criteria 2 CFR 200.303 Internal Controls, requires that recipients establish and maintain effective internal control over Federal awards that provide reasonable assurance that the recipient is managing Federal awards in compliance with Federal status, regulations and the terms and conditions of the federal award. Condition There is a lack of review and approval over grant reporting prior to submission. Cause The organization is new to receiving federal grant funding and during 2025 was in the process of putting appropriate internal controls in place. Effect Noncompliance will not be prevented or detected and corrected in a timely manner. Repeat Finding This is a repeat finding. Recommendation We recommend the Organization review their internal controls over grant reporting to determine if additional procedures can be implemented. Compensating controls that mitigate the related risks could be provided through appropriate oversight of the performance of these functions. Views of Responsible Officials and Planned Corrective Actions See corrective action plan for response.