FAC Explorer

Audit 41434

FY End
2022-07-31
Total Expended
$6.62M
Findings
2
Programs
1
Organization: United Federation of Teachers Educational Foundation, Inc. (NY)
Year: 2022 Accepted: 2023-04-30
Auditor: Buchbinder Tunick & CO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
47898 2022-001 Significant Deficiency Yes AB
624340 2022-001 Significant Deficiency Yes AB

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $6.62M Yes 1

Contacts

Name Title Type
DJMKV75MK9M5 Charles Baker Auditee
2125986862 Marc Newman Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: 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. De Minimis Rate Used: N Rate Explanation: The Organization elects not to use the 8% reduced indirect cost rate allowed by the Department of Education. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the United Federation of Teachers Educational Foundation, Inc. under a program funded by the federal government for the year ended July 31, 2022. The information in the 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 United Federation of Teachers Educational Foundation, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of the United Federation of Teachers Educational Foundation, Inc.For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the United Federation of Teachers Educational Foundation, Inc. and agencies and departments of the federal government.

Finding Details

Finding 2022-001
Condition: Written procedures do not specifically address federal funds or the use thereof. Criteria: Compliance requirements for Activities Allowed or Unallowed and for Allowable Costs state that the organization must have written polices and procedures for costs coded to federal awards. Cause: The New York City Board of Education (?NYC BOE?) passed federal funds through to the Foundation as part of the BOE?s plan to address COVID-19?s impact on schools. The Foundation did not anticipate this funding, so it did not have sufficient time to update its written policies and procedures to include treatment of federal funds. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Update the Foundation?s and UFT?s policies and procedures manuals to address the treatment of federal funds.
Finding 2022-001
Condition: Written procedures do not specifically address federal funds or the use thereof. Criteria: Compliance requirements for Activities Allowed or Unallowed and for Allowable Costs state that the organization must have written polices and procedures for costs coded to federal awards. Cause: The New York City Board of Education (?NYC BOE?) passed federal funds through to the Foundation as part of the BOE?s plan to address COVID-19?s impact on schools. The Foundation did not anticipate this funding, so it did not have sufficient time to update its written policies and procedures to include treatment of federal funds. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Update the Foundation?s and UFT?s policies and procedures manuals to address the treatment of federal funds.