FAC Explorer

Audit 4134

FY End
2022-06-30
Total Expended
$1.34M
Findings
2
Programs
3
Organization: Town of Liberty (NC)
Year: 2022 Accepted: 2023-11-27
Auditor: Thompson Price Scott Adams & CO PA

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
2406 2022-004 Significant Deficiency - A
578848 2022-004 Significant Deficiency - A

Programs

ALN Program Spent Major Findings
14.228 U.s. Dept. of Housing and Urban Development $1.14M Yes 1
21.027 U.s. Dept. of Treasur $110,763 Yes 0
66.458 U.s. Environmental Protection Agency $96,000 Yes 0

Contacts

Name Title Type
KN3PCKKJ2JG6 Jessica Brown Auditee
3366224276 Austin Eubanks Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 BASIS OF PRESENTATION Accounting Policies: Modified Accrual Basis of Accounting De Minimis Rate Used: N Rate Explanation: The Town of Liberty has elected not to use the 10-percent de minimis Uniform Administrative Requirements, Cost Principles, and Audit Requirements.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Modified Accrual Basis of Accounting De Minimis Rate Used: N Rate Explanation: The Town of Liberty has elected not to use the 10-percent de minimis Are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance.
Title: Note 3 Indirect Cost Rate Accounting Policies: Modified Accrual Basis of Accounting De Minimis Rate Used: N Rate Explanation: The Town of Liberty has elected not to use the 10-percent de minimis The Town of Liberty has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2022-004
The Town did not adhere to the grant agreement cash management policy
Finding 2022-004
The Town did not adhere to the grant agreement cash management policy