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Corrective Action Plans

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Finding 1153324 (2024-005)
Material Weakness 2024
County of Trinity
CA
Questioned Costs Subrecipient Monitoring HUD Housing Programs
Federal program title – Community Development Block Grant Recommendation: CLA recommends the County develop procedures, such as a checklist to ensure that special tests and provision requirements are tracked and met. Additionally, CLA recommends that the County perform cross training with employees ...
Federal program title – Community Development Block Grant Recommendation: CLA recommends the County develop procedures, such as a checklist to ensure that special tests and provision requirements are tracked and met. Additionally, CLA recommends that the County perform cross training with employees to ensure that knowledge is shared among the team members. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The County will not be applying for any CDBG grants in the future unless there is adequate administrative cost allocation in the grant. The County will continue to make every effort to adequate close out CDBG grants and provide reports to the granting organization as staff and priorities allow. Name(s) of the contact person(s) responsible for corrective action: Under direction of the County Administrative Officer, the Senior Financial Analyst Suzie Hawkins. Planned completion date for correcting action plan: Completed and on-going.
View Audit 366553 Questioned Costs: $1
Finding 1153317 (2024-004)
Material Weakness 2024
County of Trinity
CA
Questioned Costs HUD Housing Programs Matching / Level of Effort / Earmarking
Federal program title – Community Development Block Grant – CDBG – CFDA 14.228 Recommendation: CLA recommends the County develop procedures, such as including a compliance checklist in the receivables listing sent to the auditor’s office, to ensure that outstanding loan continuing compliance is perf...
Federal program title – Community Development Block Grant – CDBG – CFDA 14.228 Recommendation: CLA recommends the County develop procedures, such as including a compliance checklist in the receivables listing sent to the auditor’s office, to ensure that outstanding loan continuing compliance is performed timely and documented in accordance with the CDBG grant loan provision. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The County will not be applying for any CDBG grants in the future unless there is adequate administrative cost allocation in the grant. The County will continue to make every effort to adequately close out CDBG grants and provide reports to the granting organization as staff and priorities allow. Name(s) of the contact person(s) responsible for corrective action: Under direction of the County Administrative Officer, the Senior Financial Analyst Suzie Hawkins Planned completion date for correcting action plan: Completed and on-going.
View Audit 366553 Questioned Costs: $1
Finding 1153307 (2024-001)
Material Weakness 2024
Friends of Little Saigon
WA
Procurement, Suspension & Debarment § 200.303
Corrective Action: Suspension and debarment verifications have now been performed for the covered transactions charged to federal award programs in 2024. Going forward, management will include a field in Friends of Little Saigon’s standard purchase order form to attest that a suspension and debarmen...
Corrective Action: Suspension and debarment verifications have now been performed for the covered transactions charged to federal award programs in 2024. Going forward, management will include a field in Friends of Little Saigon’s standard purchase order form to attest that a suspension and debarment verification is performed for any new vendors with covered transactions over $25,000. For vendors where purchase order forms are not utilized, management will retain an electronic copy of the SAM.gov Excluded Parties List System search results in the vendor file. Anticipated Completion Date: December 31, 2025
View Audit 366546
Finding 1153306 (2024-001)
Material Weakness 2024
Pixley Irrigation District
CA
Reporting
The responsible person will attend training on preparing a Federal Financial Report. The District will adjust its procedures so that, prior to filing, a grant team member (other than the responsible person) will review the amounts reported as Federal and the recipient's share of expenditures, and ag...
The responsible person will attend training on preparing a Federal Financial Report. The District will adjust its procedures so that, prior to filing, a grant team member (other than the responsible person) will review the amounts reported as Federal and the recipient's share of expenditures, and agree to project costs incurred through the reporting date.
View Audit 366544
Finding 1153305 (2024-001)
Material Weakness 2024
Las Villas De Magnolia, Inc.
TX
Questioned Costs HUD Housing Programs Cash Management
CORRECTIVE ACTION PLAN: Name and Number of the Project: Las Villas de Magnolia, Inc. No. 447-EE123 Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2024 Compliance Review: A. COMMENTS ON FINDINGS AND RECOMMENDATIONS: We concur with the findings and recommendations of our auditors r...
CORRECTIVE ACTION PLAN: Name and Number of the Project: Las Villas de Magnolia, Inc. No. 447-EE123 Audit Firm: M Group, LLP Audit Period: The year ended December 31, 2024 Compliance Review: A. COMMENTS ON FINDINGS AND RECOMMENDATIONS: We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN: FINDING I: Section 202 Capital Advance, CFDA 14: 157 CORRECTIVE ACTION TCOMPLETED: Cleared: On March 31, 2025, the Company transferred $2,000 to the residual receipts account. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 US. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Stewart Grounds, Chief Financial Officer.
View Audit 366528 Questioned Costs: $1
Finding 1153304 (2024-002)
Material Weakness 2024
Benet Place South
MN
HUD Housing Programs Material Weakness Reporting
Material Weakness: Internal Controls Over Compliance: The HUD approved budget for the 24-25 grant period, one replacement reserve withdrawal, and the bank reconciliations for August through December did not have documented review or approval. Recommendation: The Project should establish and follow a...
Material Weakness: Internal Controls Over Compliance: The HUD approved budget for the 24-25 grant period, one replacement reserve withdrawal, and the bank reconciliations for August through December did not have documented review or approval. Recommendation: The Project should establish and follow a consistent review process for budgets, replacement reserve withdrawals, and bank reconciliations. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Management continues to review and establish monthly processes related to review and approval of budgets, replacement reserve withdrawals, and bank reconciliations.
View Audit 366520
Finding 1153303 (2024-004)
Material Weakness 2024
Benet Place
MN
Questioned Costs HUD Housing Programs Significant Deficiency
Significant Deficiency: Missing one deposit to the replacement reserve. $11,422 Recommendation: The Project should establish and follow a consistent monthly review process to ensure all deposits to the replacement reserve are made on a timely basis. Explanation of disagreement with audit finding: Th...
Significant Deficiency: Missing one deposit to the replacement reserve. $11,422 Recommendation: The Project should establish and follow a consistent monthly review process to ensure all deposits to the replacement reserve are made on a timely basis. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Management continues to review and establish processes related to review and approval to ensure monthly replacement reserve deposits are made.
View Audit 366519 Questioned Costs: $1
Finding 1153302 (2024-003)
Material Weakness 2024
Benet Place
MN
HUD Housing Programs Material Weakness Reporting
Material Weakness: Internal Controls Over Compliance: The HUD approved budget for the 24-25 grant period, one replacement reserve withdrawal, and the bank reconciliations for August through December did not have documented review or approval. Recommendation: The Project should establish and follow a...
Material Weakness: Internal Controls Over Compliance: The HUD approved budget for the 24-25 grant period, one replacement reserve withdrawal, and the bank reconciliations for August through December did not have documented review or approval. Recommendation: The Project should establish and follow a consistent review process for budgets, replacement reserve withdrawals, and bank reconciliations. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Management continues to review and establish monthly processes related to review and approval of budgets, replacement reserve withdrawals, and bank reconciliations.
View Audit 366519
Finding 1153301 (2024-002)
Material Weakness 2024
Benet Place
MN
Questioned Costs Allowable Costs / Cost Principles HUD Housing Programs
Material Weakness: Unauthorized Loan Recommendation: Management should implement a monthly review process to ensure that management fees are billed in accordance with the terms of the management agreement. Additionally, payroll allocations should be reviewed monthly to confirm that only the appropri...
Material Weakness: Unauthorized Loan Recommendation: Management should implement a monthly review process to ensure that management fees are billed in accordance with the terms of the management agreement. Additionally, payroll allocations should be reviewed monthly to confirm that only the appropriate share of expenses is charged to the Project. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Management continues to review and establish month end and year end procedures to properly record management fees accordance with HUD approved rate. The payroll allocation issue arose due to a salary allocation being missed during the property management transition. Management continues to review and establish procedures related to payroll allocations to ensure correct expenses are allocated to the Project.
View Audit 366519 Questioned Costs: $1
Finding 1153300 (2024-002)
Material Weakness 2024
St Croix Valley Supportive Housing for the Elderly, Inc.
WI
Questioned Costs Allowable Costs / Cost Principles HUD Housing Programs
Federal Agency: U.S. Dept. of Housing and Urban Development Federal Program: Section 202 Capital Advance Assistance Listing Number: 14.157 Federal Award Identification Number and Year: WI39S971003-23Z-2023 2024-002 Material Weakness: Unauthorized Loan Recommendation: Payroll allocations should be re...
Federal Agency: U.S. Dept. of Housing and Urban Development Federal Program: Section 202 Capital Advance Assistance Listing Number: 14.157 Federal Award Identification Number and Year: WI39S971003-23Z-2023 2024-002 Material Weakness: Unauthorized Loan Recommendation: Payroll allocations should be reviewed monthly to confirm that only the appropriate share of expenses is charged to the Project. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The issue arose due to a salary allocation being missed during the general ledger conversion. Management continues to review and establish procedures related to payroll allocations to ensure correct expenses are allocated to the Project. Names of the contact persons responsible for corrective action: Tom Krolak Planned completion date for corrective action plan: December 31, 2025
View Audit 366518 Questioned Costs: $1
Finding 1153297 (2024-001)
Material Weakness 2024
Dunn Housing Authority
NC
Eligibility HUD Housing Programs Reporting
Corrective Action Plan Section II - Financial Statement Findings None Reported Section III - Federal Award Findings and Questioned Costs Finding 2024-001 Name of Contact Person: Felicia Chester, Executive Director Corrective Action: We will implement proper internal control procedures for the Public...
Corrective Action Plan Section II - Financial Statement Findings None Reported Section III - Federal Award Findings and Questioned Costs Finding 2024-001 Name of Contact Person: Felicia Chester, Executive Director Corrective Action: We will implement proper internal control procedures for the Public and Indian Housing program elegibility requirements. Mangement has established a checklist for applications and will establish checklists for move-ins and move-outs. Proposed Completion Date: Immediately
View Audit 366512
Finding 1153296 (2024-003)
Material Weakness 2024
Montgomery County
IN
Internal Control / Segregation of Duties Allowable Costs / Cost Principles Material Weakness § 200.1 § 200.303
FINDING 2024-003 (prior finding audit number 2023-002) Finding Subject: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds - Reporting Contact Person Responsible for Corrective Action: Mindy Byers, Auditor Contact Phone Number and Email Address: 765-364-6401 mindy.byers@montgomerycounty.in...
FINDING 2024-003 (prior finding audit number 2023-002) Finding Subject: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds - Reporting Contact Person Responsible for Corrective Action: Mindy Byers, Auditor Contact Phone Number and Email Address: 765-364-6401 mindy.byers@montgomerycounty.in.gov Views of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: One person will complete the report and another will sign off on a full review. Anticipated Completion Date: April 1, 2026 (based on due date of the next report)
View Audit 366496
Finding 1153295 (2024-002)
Material Weakness 2024
Montgomery County
IN
Procurement, Suspension & Debarment Subrecipient Monitoring § 200.214 § 200.303
FINDING 2024-002 (prior finding audit number 2023-001) Finding Subject: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds – Suspension and Debarment Contact Person Responsible for Corrective Action: Mindy Byers, Auditor Contact Phone Number and Email Address: 765-364-6401 mindy.byers@mont...
FINDING 2024-002 (prior finding audit number 2023-001) Finding Subject: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds – Suspension and Debarment Contact Person Responsible for Corrective Action: Mindy Byers, Auditor Contact Phone Number and Email Address: 765-364-6401 mindy.byers@montgomerycounty.in.gov Views of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: A new policy was adopted after the previous audit to ensure proper language regarding suspension and debarment is included in every contract. Because the contracts are outside of Auditor control, the Auditor is requesting county management to get an amendment for the vendor in question, Indiana American Water. Anticipated Completion Date: 08/31/2025
View Audit 366496
Finding 1153294 (2024-003)
Material Weakness 2024
Food for Thought
CA
Subrecipient Monitoring Allowable Costs / Cost Principles § 200.332
FFT will monitor its subcontractor for compliance in the future.
FFT will monitor its subcontractor for compliance in the future.
View Audit 366493
Finding 1153293 (2024-003)
Material Weakness 2024
Fulton County
IN
Procurement, Suspension & Debarment Subrecipient Monitoring § 200.214 § 200.303
FINDING 2024-003 Finding Subject: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds – Suspension and Debarment Contact Person Responsible for Corrective Action: Katherine Adamson Contact Phone Number and Email Address: 574-223-2912 auditor@co.fulton.in.us View of Responsible Officials: We...
FINDING 2024-003 Finding Subject: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds – Suspension and Debarment Contact Person Responsible for Corrective Action: Katherine Adamson Contact Phone Number and Email Address: 574-223-2912 auditor@co.fulton.in.us View of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: This grant is fully expended; however the Auditor will work with the County Attorney and Commissioners to create the necessary policies and procedures for the County related to Suspension and Debarment of other grant funds. Anticipated Completion Date: December 31, 2025
View Audit 366488
Finding 1153292 (2024-003)
Material Weakness 2024
Social Enterprise Properties
PA
Procurement, Suspension & Debarment § 200.318
Finding 2024-003: Noncompliance – Procurement Policy The entity does not have a documented procurement policy. As a result, there is no formal guidance to ensure that procurement transactions are conducted in accordance with applicable federal regulations, including requirements related to full and ...
Finding 2024-003: Noncompliance – Procurement Policy The entity does not have a documented procurement policy. As a result, there is no formal guidance to ensure that procurement transactions are conducted in accordance with applicable federal regulations, including requirements related to full and open competition, appropriate procurement methods based on dollar thresholds, and verification of suspension and debarment. Planned Corrective Action: Management has developed and put in place a written procurement policy effective May 1, 2025. James Frederick, COO, is responsible for the corrective action plan.
View Audit 366487
Finding 1153290 (2024-001)
Material Weakness 2024
Town of Exeter
NH
Questioned Costs Matching / Level of Effort / Earmarking § 200.306
Management recognizes its responsibility for understanding and adhering to the Cost Sharing rules outlined under 2 CFR 200.306. Management is working with the New Hampshire Dept. of Environmental Services to correct any funding requests for the Webster Ave. Pump Station project in which ARPA funds w...
Management recognizes its responsibility for understanding and adhering to the Cost Sharing rules outlined under 2 CFR 200.306. Management is working with the New Hampshire Dept. of Environmental Services to correct any funding requests for the Webster Ave. Pump Station project in which ARPA funds were used as a match against the project’s federal CDS grant. Prior to submitting its first CDS funding request to EPA, engineers for the project requested guidance from an EPA representative on matching local funding for the project with CDS funding. The feedback they received led us to believe that using ARPA against CDS funding was not an issue since in total the project’s local funding source (CWSRF) far exceeded the 20% CDS match requirement. Considering the actual Cost Sharing rules under 2 CFR 200.306, the feedback was misinterpreted.
View Audit 366485 Questioned Costs: $1
Finding 1153289 (2024-001)
Material Weakness 2024
Elder Abuse Institute of Maine
ME
Reporting Allowable Costs / Cost Principles § 200.512
View of Responsible Officials and Planned Corrective Actions: We plan on verifying that the submission to the Federal Audit Clearinghouse is completed in a timely manner moving forward.
View of Responsible Officials and Planned Corrective Actions: We plan on verifying that the submission to the Federal Audit Clearinghouse is completed in a timely manner moving forward.
View Audit 366484
Finding 1153285 (2024-001)
Material Weakness 2024
West Michigan Food Processing Association
MI
Subrecipient Monitoring Procurement, Suspension & Debarment Allowable Costs / Cost Principles § 200.302 § 200.318
WEST MICHIGAN FOOD PROCESSING ASSOCIATION CORRECTIVE ACTION PLAN DECEMBER 31, 2024 West Michigan Food Processing Association respectfully submits the following corrective action plan for the year ended December 31, 2024. Auditor: Maner Costerisan 2425 E. Grand River Avenue, Suite 1 Lansing, MI 48912...
WEST MICHIGAN FOOD PROCESSING ASSOCIATION CORRECTIVE ACTION PLAN DECEMBER 31, 2024 West Michigan Food Processing Association respectfully submits the following corrective action plan for the year ended December 31, 2024. Auditor: Maner Costerisan 2425 E. Grand River Avenue, Suite 1 Lansing, MI 48912 Audit period: Year ended December 31, 2024. District Contact Person: Marty Gerencer, Contracted Executive Director The findings from the December 31, 2024 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the number assigned in the schedule. Finding: Federal Awards and Questioned Cost Finding 2024-01 Recommendation: We recommend that West Michigan Food Processing Association develop and implement comprehensive written policies and procedures to address the requirements of the Uniform Guidance. These should be tailored to the Association’s structure and operations and cover all applicable federal compliance areas. Management should also establish a process to periodically review and update these documents to ensure continued compliance. Action to be taken: The Association concurs with the facts of this finding and is implementing procedures to prevent this in the future. Finding: Financial Statement Audit Finding 2024-02 Recommendation: We recommend implementing a compensating control to mitigate this risk, such as: ➢ Requiring documented approval by a board member or other authorized individual prior to processingdisbursements, or ➢ Providing a board member or finance committee member with view-only online access or automatedbank alerts to review all cleared transactions. Action to be taken: The Association concurs with the facts of this finding and is implementing procedures to prevent this in the future.
View Audit 366482
Finding 1153283 (2024-002)
Material Weakness 2024
Howard County
IN
Allowable Costs / Cost Principles Material Weakness Period of Performance § 200.1 § 200.303
FINDING 2024-002 Finding Subject: COVID-19 - Coronavirus State and Local Fiscal Recovery Funds – Reporting Contact Person Responsible for Corrective Action: Jessica Secrease, County Auditor Contract Phone Number and Email Address: 765-456-2804 Views of Responsible Officials: We concur with the findi...
FINDING 2024-002 Finding Subject: COVID-19 - Coronavirus State and Local Fiscal Recovery Funds – Reporting Contact Person Responsible for Corrective Action: Jessica Secrease, County Auditor Contract Phone Number and Email Address: 765-456-2804 Views of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: To prevent a recurrence of this issue in future audits, the County will implement a new internal control procedure. Specifically, the Auditor’s Office will require that both the Deputy Auditor and the County Auditor review and sign off on all Coronavirus State and Local Fiscal Recovery Fund reports prior to submission. This dual-review process will include a standardized checklist to verify data accuracy, consistency with supporting documentation, and compliance with federal reporting requirements. In addition, staff involved in the preparation of the reports will receive refresher training on the applicable guidance and reporting protocols to ensure a thorough understanding of expectations and requirements Anticipated Completion Date: September 2025
View Audit 366471
Finding 1153274 (2024-003)
Material Weakness 2024
Housing Authority of the City of Lafayette
LA
HUD Housing Programs
The Project will strengthen controls over timely performance and appropriate documentation of all required inspections and re-inspections in accordance with quality control standards. Contact: Latweeta Smyers, Executive Director Anticipated Completion Date: 10/31/25
The Project will strengthen controls over timely performance and appropriate documentation of all required inspections and re-inspections in accordance with quality control standards. Contact: Latweeta Smyers, Executive Director Anticipated Completion Date: 10/31/25
View Audit 366467
Finding 1153271 (2024-002)
Material Weakness 2024
Housing Authority of the City of Lafayette
LA
HUD Housing Programs
The Project will strengthen controls over record keeping and maintenance of tenant files with an increased emphasis on timely and appropriate documentation ensuring compliance with all HUD requirements. Contact: Latweeta Smyers, Executive Director Anticipated Completion Date: 10/31/25
The Project will strengthen controls over record keeping and maintenance of tenant files with an increased emphasis on timely and appropriate documentation ensuring compliance with all HUD requirements. Contact: Latweeta Smyers, Executive Director Anticipated Completion Date: 10/31/25
View Audit 366467
Finding 1153267 (2024-003)
Material Weakness 2024
City of Greenfield
IN
Internal Control / Segregation of Duties Allowable Costs / Cost Principles Material Weakness § 200.1 § 200.303
FINDING 2024-003 Finding Subject: COVID-19 - Coronavirus State and Local Fiscal Recovery Funds - Reporting Contact Person Responsible for Corrective Action: Lori Elmore Contact Phone Number and Email Address: 317-325-1315 Lelmore@greenfieldin.org Views of Responsible Officials: We concur with the fi...
FINDING 2024-003 Finding Subject: COVID-19 - Coronavirus State and Local Fiscal Recovery Funds - Reporting Contact Person Responsible for Corrective Action: Lori Elmore Contact Phone Number and Email Address: 317-325-1315 Lelmore@greenfieldin.org Views of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: We will ensure an internal person reviews the items included in the Annual Project and Expenditure Report before the submission of the report, we will implement a system where communications are exchanged between the Clerk-Treasurer and the person reviewing the submission to verify the report has been reviewed by someone other than the preparer. The spreadsheet which tracks expenditures has been amended to separate the reporting periods. Anticipated Completion Date: By April 30th, 2026 when the next Annual Project and Expenditure Report is due to be submitted.
View Audit 366453
Finding 1153266 (2024-002)
Material Weakness 2024
City of Greenfield
IN
Procurement, Suspension & Debarment Subrecipient Monitoring § 200.303
FINDING 2024-002 Finding Subject: COVID-19 - Coronavirus State and Local Fiscal Recovery Funds - Suspension and Debarment Contact Person Responsible for Corrective Action: Lori Elmore Contact Phone Number and Email Address: 317-325-1315 Lelmore@greenfieldin.org Views of Responsible Officials: We con...
FINDING 2024-002 Finding Subject: COVID-19 - Coronavirus State and Local Fiscal Recovery Funds - Suspension and Debarment Contact Person Responsible for Corrective Action: Lori Elmore Contact Phone Number and Email Address: 317-325-1315 Lelmore@greenfieldin.org Views of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: The City Attorney will include this language in all our standard contracts and agreements to ensure all contractors that are paid $25,000 or more, all or in part with federal funds, are not suspended or disbarred from participating in federal programs before entering a contract going forward. In addition, we will include a self-certification document for vendors to return to us as part of their bid packet and add to the checklist of requested items. The City Attorney and the Department Head, who is overseeing the project, will be responsible for confirming this document is received and the vendor is neither disbarred nor suspended. Anticipated Completion Date: Estimated to be in effect by September 30th, 2025, or earlier, following the completion of the exit interview and once the Audit Report has been posted on the SBOA website and we are free to openly discuss the audit findings.
View Audit 366453
Finding 1153205 (2024-001)
Material Weakness 2024
Benton-Franklin Council of Governments
WA
Subrecipient Monitoring Internal Control / Segregation of Duties Allowable Costs / Cost Principles
Corrective action the auditee plans to take in response to the finding: CORRECTIVE ACTION PLAN: 7. Closely following the GUIDE FOR EDA CARES REVOLVING LOAN FUND SEMI-ANNUAL FINANCIAL REPORTING PROCESS FOR BFCOG-47289WA FOR EDA AWARD NUMBER 07-79-07622 document. To avoid errors in key lines, such as ...
Corrective action the auditee plans to take in response to the finding: CORRECTIVE ACTION PLAN: 7. Closely following the GUIDE FOR EDA CARES REVOLVING LOAN FUND SEMI-ANNUAL FINANCIAL REPORTING PROCESS FOR BFCOG-47289WA FOR EDA AWARD NUMBER 07-79-07622 document. To avoid errors in key lines, such as administrative expenses, RLF income earned during the fiscal year, and RLF income used for administrative costs for the fiscal year. 8. To further avoid discrepancies, BFCOG will move to a semi-annual administrative expense reimbursement cycle to align with the semi-annual reporting periods. By doing this instead of only once at year's end, we will lessen the chance of those expenses being missed in reporting. 9. The primary responsibilities of this process will be transferred to our Staff Accountant (A. Fernandez) and reviewed with the Authorized Representative/Lending Director (M. Holt). During this transfer of duties, our Staff Accountant and Authorized Representative/Lending Director will ensure adequate training for upcoming reporting cycles and proper internal and EDA-level review. 10. The EDA RLF Program Administrator provided guidance that there is no mechanism for correcting reports filed in error and that necessary corrections must be made when filing the 2025 Year-End Financial Report. 11. File the 2025 Year-End Financial Report accurately and on time and document the review and submission paper trail for future reference.
View Audit 366431
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