Finding 1149635 (2024-003)

Finding 2024-003 Federal Procurement Policies Criteria: Federal awards recipients must have written policies, procedures, and standards of conduct as required by 2 CFR 200, Subparts D and E. Condition: There are no written procurement policies specific to federal awards cost principle requirements under Uniform Guidance. Existing procurement policies are minimal and do not meet federal requirements. Cause: Certain required policies under 2 CFR 200, Subparts D and E are not present. Effect: Lack of required policies may create noncompliance with regulations as stated requirements may not be followed. Recommendation: The Town should develop procurement policies and financial policies that meet federal standards. Management's Response: A. Comments on Findings and Recommendations: The Town concurs with the finding. B. Actions Planned or Taken: As of October 2024, the Town has adopted a Federal Procurement Policy.