FAC Explorer

Audit 54027

FY End
2022-12-31
Total Expended
$962,082
Findings
4
Programs
3
Organization: Wind River Development Fund (WY)
Year: 2022 Accepted: 2023-09-19
Auditor: Summit West CPA Group PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
58227 2022-002 Significant Deficiency - L
58228 2022-002 Significant Deficiency - L
634669 2022-002 Significant Deficiency - L
634670 2022-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
11.307 Economic Adjustment Assistance $479,601 Yes 1
21.024 Community Development Financial Institutions Rapid Response Program (cdfi Rrp) $100,000 - 0
21.012 Native Initiatives $54,906 - 0

Contacts

Name Title Type
VHSJFRQKMXG9 Paul Huberty Auditee
3073357330 Tim Fixter Auditor
No contacts on file

Notes to SEFA

Accounting Policies: NOTE A - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Wind River Development Fund and Painted Pony, Inc's. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations.Wind River Development Fund and Painted Pony, Inc, is eligible to apply a 10% de minimis indirect cost rate on certain grants that have been awarded. Wind River Development Fund and Painted Pony, Inc. has evaluated this application on a grant-by-grant basis. NOTE B - PASS-THROUGH GRANTOR NUMBERSWind River Development Fund and Painted Pony, Inc. contacted granting agencies and requested pass-through grantor agency numbers.Granting agencies were unable to provide requested information.NOTE C - PROGRAM SPECIFIC AUDIT As part of accepting the Economic Adjustment Assistance Cluster Grant Program the Wind River Development Fund and Painted Pony, Inc was required to have a program specific audit performed despite being under the $750,000 in federal expenditures. Given that Wind River Development Fund and Painted Pony, Inc. did not meet that threshold a formal data collection form is not submitted. The Schedule of Expenditures of Federal Awards is only presented at the request of the Granting Agency and is not part of a normal requirement for an organization with this respective amount of federal expenditures. NOTE D - Economic Assistance Cluster Program The Economic Assistance Cluster Program (CFDA 11.307) is associated with grant Investments for Public Works and Economic Development Faciliites (CFDA. 11.300) as part of a cluster program under the Department of Commerce. The revenue received is approximately the same as the expenses noted above. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-002
SECTION III - FEDERAL AWARD FINDINGS AND QUESTIONED COSTS Program Information: 11.307 Economic Adjustment Assistance Repeat Finding from Prior Year: No Condition: The Development Fund lacks an adequate internal control system for ensuring that federal award performance or special reports are submitted timely in accordance with grant requirements. Criteria: The Development Fund should implement an internal control system that ensures performance or special reporting over federal awards is performed timely as per the terms of the grant awards. Context: The Special Terms of the grant awards establish the reporting periods and deadlines for performance or special reports. Performance or special reports are often submitted with financial reports, which might take longer to prepare. The performance or special reports were at times submitted shortly after a notification from the grant awarding agency that the Development Fund was delinquent in submitting a report or an inquiry by the grant awarding agency as to the status of the report preparation. Of the five performance or special reports tested, three reports were not submitted timely. Reports were submitted between at least 5 and 44 calendar days late. Cause: The Development Fund's federal award performance and special reporting internal controls do not include a process for ensuring that all performance and special reports are submitted before their due dates. Effect: Lack of compliance with associated grant reporting requirements as outlined in 2 CFR 200, Appendix XI, Uniform Grant Guidance. Questioned Costs: Not applicable Sampling method: Non-statistical (targeted) Recommendation: We recommend that the Development Fund utilize internal control methods to ensure that performance and special reports for federal awards are submitted timely.
Finding 2022-002
SECTION III - FEDERAL AWARD FINDINGS AND QUESTIONED COSTS Program Information: 11.307 Economic Adjustment Assistance Repeat Finding from Prior Year: No Condition: The Development Fund lacks an adequate internal control system for ensuring that federal award performance or special reports are submitted timely in accordance with grant requirements. Criteria: The Development Fund should implement an internal control system that ensures performance or special reporting over federal awards is performed timely as per the terms of the grant awards. Context: The Special Terms of the grant awards establish the reporting periods and deadlines for performance or special reports. Performance or special reports are often submitted with financial reports, which might take longer to prepare. The performance or special reports were at times submitted shortly after a notification from the grant awarding agency that the Development Fund was delinquent in submitting a report or an inquiry by the grant awarding agency as to the status of the report preparation. Of the five performance or special reports tested, three reports were not submitted timely. Reports were submitted between at least 5 and 44 calendar days late. Cause: The Development Fund's federal award performance and special reporting internal controls do not include a process for ensuring that all performance and special reports are submitted before their due dates. Effect: Lack of compliance with associated grant reporting requirements as outlined in 2 CFR 200, Appendix XI, Uniform Grant Guidance. Questioned Costs: Not applicable Sampling method: Non-statistical (targeted) Recommendation: We recommend that the Development Fund utilize internal control methods to ensure that performance and special reports for federal awards are submitted timely.
Finding 2022-002
SECTION III - FEDERAL AWARD FINDINGS AND QUESTIONED COSTS Program Information: 11.307 Economic Adjustment Assistance Repeat Finding from Prior Year: No Condition: The Development Fund lacks an adequate internal control system for ensuring that federal award performance or special reports are submitted timely in accordance with grant requirements. Criteria: The Development Fund should implement an internal control system that ensures performance or special reporting over federal awards is performed timely as per the terms of the grant awards. Context: The Special Terms of the grant awards establish the reporting periods and deadlines for performance or special reports. Performance or special reports are often submitted with financial reports, which might take longer to prepare. The performance or special reports were at times submitted shortly after a notification from the grant awarding agency that the Development Fund was delinquent in submitting a report or an inquiry by the grant awarding agency as to the status of the report preparation. Of the five performance or special reports tested, three reports were not submitted timely. Reports were submitted between at least 5 and 44 calendar days late. Cause: The Development Fund's federal award performance and special reporting internal controls do not include a process for ensuring that all performance and special reports are submitted before their due dates. Effect: Lack of compliance with associated grant reporting requirements as outlined in 2 CFR 200, Appendix XI, Uniform Grant Guidance. Questioned Costs: Not applicable Sampling method: Non-statistical (targeted) Recommendation: We recommend that the Development Fund utilize internal control methods to ensure that performance and special reports for federal awards are submitted timely.
Finding 2022-002
SECTION III - FEDERAL AWARD FINDINGS AND QUESTIONED COSTS Program Information: 11.307 Economic Adjustment Assistance Repeat Finding from Prior Year: No Condition: The Development Fund lacks an adequate internal control system for ensuring that federal award performance or special reports are submitted timely in accordance with grant requirements. Criteria: The Development Fund should implement an internal control system that ensures performance or special reporting over federal awards is performed timely as per the terms of the grant awards. Context: The Special Terms of the grant awards establish the reporting periods and deadlines for performance or special reports. Performance or special reports are often submitted with financial reports, which might take longer to prepare. The performance or special reports were at times submitted shortly after a notification from the grant awarding agency that the Development Fund was delinquent in submitting a report or an inquiry by the grant awarding agency as to the status of the report preparation. Of the five performance or special reports tested, three reports were not submitted timely. Reports were submitted between at least 5 and 44 calendar days late. Cause: The Development Fund's federal award performance and special reporting internal controls do not include a process for ensuring that all performance and special reports are submitted before their due dates. Effect: Lack of compliance with associated grant reporting requirements as outlined in 2 CFR 200, Appendix XI, Uniform Grant Guidance. Questioned Costs: Not applicable Sampling method: Non-statistical (targeted) Recommendation: We recommend that the Development Fund utilize internal control methods to ensure that performance and special reports for federal awards are submitted timely.