Finding 1084607 (2024-001)

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Requirement
L
Questioned Costs
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Year
2024
Accepted
2024-11-15
Audit: 328617
Organization: Village of Round Lake Beach (IL)
Auditor: Sikich CPA LLC

AI Summary

  • Core Issue: The Village did not submit the required annual project and expenditure reports on time, violating grant agreement terms.
  • Impacted Requirements: This non-compliance affects the Reporting Compliance Requirement for the Coronavirus State and Local Fiscal Recovery Funds.
  • Recommended Follow-up: The Village should enhance controls over reporting processes to prevent future delays.

Finding Text

2024-001 Reporting – Coronavirus State and Local Fiscal Recovery Funds Assistance Listing Number 21.027 Grant Period - Year Ended April 30, 2024 Criteria: In accordance with the grant agreement the Village was required to submit an annual project and expenditure reports to the Illinois Department of Treasury as outlined on the schedule provided within the agreement. Condition: The Village failed to submit the annual report, in a timely manner. We consider this to be an instance of non-compliance relating to the Reporting Compliance Requirement. Effect: The result is that the Village did not submit the required information to the Illinois Department of Treasury in a timely fashion. Cause: The condition was an administrative oversight. Recommendation: We recommend the Village increase controls over reporting. Views of Responsible Officials: Management agrees with the Single Audit finding and a response is included in the Corrective Action Plan.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
21.027 Covid-19; Coronavirus State and Local Fiscal Recovery Funds $3.02M
14.218 Community Development Block Grants/entitlement Grants $99,100
66.468 Capitalization Grants for Drinking Water State Revolving Funds $25,000