FAC Explorer

Audit 64572

FY End
2022-06-30
Total Expended
$2.23M
Findings
0
Programs
4
Organization: Town of Mount Olive (NC)
Year: 2022 Accepted: 2023-03-27
Auditor: S Preston Douglas and Associates

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
10.766 Community Facilities Loans and Grants $1.20M Yes 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $729,498 Yes 0
20.106 Airport Improvement Program $161,776 - 0
14.218 Community Development Block Grants/entitlement Grants $136,000 - 0

Contacts

Name Title Type
MTLVE2022AUD Jamie Butler Auditee
9106589537 Lee Grissom Auditor
No contacts on file

Notes to SEFA

Title: Loan Balance Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The outstanding balance of the USDA loan is $546,000.