FAC Explorer

Audit 412581

FY End
2025-12-31
Total Expended
$2.37M
Findings
6
Programs
5
Organization: Beacon, Inc. (IN)
Year: 2025 Accepted: 2026-09-28
Auditor: BLUE AND CO LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1237659 2025-001 Material Weakness Yes ABGH
1237660 2025-001 Material Weakness Yes ABGH
1237661 2025-001 Material Weakness Yes ABGH
1237662 2025-001 Material Weakness Yes ABGH
1237663 2025-001 Material Weakness Yes ABGH
1237664 2025-001 Material Weakness Yes ABGH

Programs

ALN Program Spent Major Findings
93.558 TEMPORARY ASSISTANCE FOR NEEDY FAMILIES $220,830 Yes 0
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $30,472 Yes 0
14.267 CONTINUUM OF CARE PROGRAM $15,456 Yes 1
14.231 EMERGENCY SOLUTIONS GRANT PROGRAM $2,671 Yes 0
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $1,248 Yes 0

Contacts

Name Title Type
NYQGS4MRE6Z6 Ian Forrest Gilmore Auditee
8123345734 Lee Kammerer Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Beacon, Inc. 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 Beacon, Inc., it is not intended to and does not present the financial position and changes in net assets of Beacon, Inc.
Expenditures reported on the Schedule are presented on the modified cash basis of accounting, which is a special-purpose framework. Under this method, expenditures are recognized when paid, with certain exceptions for year-end accruals. Expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance, which dictate allowability and limitations on reimbursement. Negative amounts shown on the Schedule represent adjustments or credits to expenditures reported in prior years, made in the normal course of business.
Beacon, Inc. has not elected to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.
Beacon, Inc. did not pass any federal funds to subrecipients for the year ended December 31, 2025.
Beacon, Inc. presents its financial statements on the modified cash basis of accounting. The Schedule of Expenditures of Federal Awards shows total expenditures of $2,365,220, which reconciles to the financial statements as follows: Total grant revenue $ 2,566,033 Add: amounts expended in 2025 but received subsequent to year-end 23,529 Less: non-federal grant revenue not subject to federal reporting requirements (224,342) Total federal awards expended $ 2,365,220

Finding Details

Finding 2025-001
MATERIAL WEAKNESSES Finding Reference Number: 2025-001 (repeat of 2024-001) – Preparation of Financial Statements Criteria: Management is responsible for establishing and maintaining effective internal controls over financial reporting. Effective internal controls are an important component of a system that supports the preparation of external year-end financial statements and related note disclosures, as well as the oversight of the external financial reporting process by those charged with governance. Condition and Context: Beacon, Inc. (“Beacon”) does not currently have in place the processes and controls that would assure the preparation of external year-end financial statements and related note disclosures in accordance with the modified cash basis of accounting. Cause: Preparation of the external financial statements and related note disclosures, with a closing process to identify and correct material misstatements in the financial statements would require the in-house ability to maintain appropriate technical knowledge and to research current and changing accounting standards as well as unique industry considerations. Beacon has not allocated sufficient resources toward developing these capabilities because management believes the cost of doing so outweighs the benefits. Effect: Beacon engages the auditors to draft the year-end external financial statements and to perform the necessary steps to ensure the disclosures are complete. Once drafted, the financial statements are submitted to management for review and approval. While this practice is common and practical, it must be reported as a material weakness in internal control over financial reporting since the yearend external financial statement preparation cannot be carried out in-house. Recommendation: Beacon should review and consider enhancements to the external financial reporting procedures and controls in place to make improvements as they are practical to do so. Responsible Official’s Response: Management concurs with the reported finding. The current economics of the organization does not allow us to correct this weakness. We believe our current accounting capacity is sufficient for routine day-to-day needs. We will continue to seek outside guidance through our annual independent audit to correct minor errors that sometimes occur or to perform other accounting needs.