Audit 45685

FY End

2022-10-31

Total Expended

$992,693

Findings

2

Programs

1

Organization: Sweet Home Economic Development Group, INC (OR)

Year: 2022 Accepted: 2023-09-27

Auditor: Moss Adams LLP

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
44453	2022-001	Significant Deficiency	-	L
620895	2022-001	Significant Deficiency	-	L

ALN	Program	Spent	Major	Findings
59.075	Shuttered Venue Operators Grant Program	$992,693	Yes	1

Contacts

Name	Title	Type
DF1QPMJ2XBQ7	Peggy Curtis	Auditee
5413678800	Matthew Dinsdale	Auditor
No contacts on file

Notes to SEFA

Title: Note 1 Basis of Presentation Accounting Policies: Note 2 Summary of Significant Accounting PoliciesBasis of accounting The Financial Statement is prepared using the accrual basis of accounting.Program costs The amounts shown as current period expenditures represent only the federal grant portion of the program costs. Entire program costs exceed the amounts shown on the Financial Statement for the Shuttered Venue Operators Program of the Organization. The Organization follows the cost principles contained in 2 CFR Part 200, Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Related parties - The Organization pays for rent of storage space to a related party who is an employee of the Organization. Rent paid totaled $6,000 for the period ended October 31, 2022.Indirect costs The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.Commitments and contingencies The Organization receives a portion of its funding from this Program, which is subject to audit. The ultimate determination of amounts received under this Program is generally based upon allowable costs reported to and subject to audit by supporting federal agencies. There exists a contingency to refund any amounts received in excess of allowable costs. Management believes that disallowed costs, if any, will be immaterial to the Financial Statement of the Program.Managements evaluation of subsequent events The Organization has evaluated subsequent events through September 5, 2023, the date upon which the Financial Statement was available for issuance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Financial Statement) includes the federal grant activity of Sweet Home Economic Development Group, Inc. (the Organization) for the period ended October 31, 2022, for the Shuttered Venue Operators Grant Program (the Program). The information in this Financial Statement is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance). Because the Financial Statement presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the financial position, results of operations, or cash flows of the Organization.

Finding Details

Finding 2022-001

Criteria ? 45 CFR 75.501 requires a non-Federal entity that expends $750,000 or more during the non-Federal entity's fiscal year in Federal awards must have a single or program-specific audit conducted for that year. Audits must be completed and submitted within 30 days after receipt of the auditor's report, or 9 months after the end of the audit period, whichever is earlier. Condition ? The Organization did not submit a program-specific audit in a timely manner to be in compliance with the audit requirement under 45 CFR 75.501. Context ? The Organization did not meet its reporting deadline of July 31, 2023. Questioned Costs ? None Cause ? The Organization was unable to meet the deadline due to certain delays in becoming aware of the compliance requirement. Effect ? Audit was not performed and submitted in a timely manner. The Organization has not met the reporting requirements under 45 CFR 75.501. Recommendation ? We recommend that the Organization obtain a program-specific audit for each year that it meets the audit requirement of 45 CFR 75.501. Management?s Response ? The Organization will obtain a program-specific audit for each year that it meets the audit requirement of 45 CFR 75.501.

Finding 2022-001

Criteria ? 45 CFR 75.501 requires a non-Federal entity that expends $750,000 or more during the non-Federal entity's fiscal year in Federal awards must have a single or program-specific audit conducted for that year. Audits must be completed and submitted within 30 days after receipt of the auditor's report, or 9 months after the end of the audit period, whichever is earlier. Condition ? The Organization did not submit a program-specific audit in a timely manner to be in compliance with the audit requirement under 45 CFR 75.501. Context ? The Organization did not meet its reporting deadline of July 31, 2023. Questioned Costs ? None Cause ? The Organization was unable to meet the deadline due to certain delays in becoming aware of the compliance requirement. Effect ? Audit was not performed and submitted in a timely manner. The Organization has not met the reporting requirements under 45 CFR 75.501. Recommendation ? We recommend that the Organization obtain a program-specific audit for each year that it meets the audit requirement of 45 CFR 75.501. Management?s Response ? The Organization will obtain a program-specific audit for each year that it meets the audit requirement of 45 CFR 75.501.