FAC Explorer

Finding 1105095 (2021-004)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2021
Accepted
2025-03-18
Audit: 346623
Organization: City of Baltimore Development Corporation (MD)
Auditor: Gross Mendelsohn and Associates PA

AI Summary

  • Answer: The Schedule of Expenditures of Federal Awards (SEFA) was not prepared correctly, leading to misstatements.
  • Trend: This issue relates to previous findings, indicating a recurring problem with federal grant reporting.
  • List: Ensure accurate preparation of SEFA, review federal expenditure reporting processes, and implement corrective measures to prevent future errors.

Finding Text

Finding #2021-004 - Preparation of Schedule of Expenditures of Federal Awards Condition: The organization did not properly prepare a Schedule of Expenditure of Federal Awards (SEFA) that identified all federal grant funds expended. In addition, federal expenditure amounts were misstated in relation to finding #2021-002. The identified misstatements were corrected in the accompanying SEFA and had no impact on the consolidated financial statement amounts.

Categories

Reporting

Other Findings in this Audit

  • 528650 2021-003
    Material Weakness
  • 528651 2021-004
    Material Weakness Repeat
  • 528652 2021-003
    Material Weakness
  • 528653 2021-004
    Material Weakness Repeat
  • 1105092 2021-003
    Material Weakness
  • 1105093 2021-004
    Material Weakness Repeat
  • 1105094 2021-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $11.60M
21.019 Coronavirus Relief Fund $7.14M
11.307 Economic Adjustment Assistance $2.19M
66.818 Brownfields Multipurpose, Assessment, Revolving Loan Fund, and Cleanup Cooperative Agreements $70,437