FAC Explorer

Finding 1157237 (2024-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-09-30
Audit: 369560
Organization: Greeley-Weld County Airport Authority (CO)
Auditor: Anderson & Whitney

AI Summary

  • Core Issue: SF-425 Federal Financial Reports were not submitted by the required deadline of December 31st for open grants.
  • Impacted Requirements: Grants must file the SF-425 reports annually while the grant is active.
  • Recommended Follow-Up: Ensure SF-425 reports are completed and submitted by December 31st each year for all open grants.

Finding Text

FINDING 2024-001: Assistance Listing Number 20.106 – Airport Improvement Program Pass-Through Agency: N/A Criteria: Reporting – Grants must submit reporting form SF-425 Federal Financial Report by December 31st of each year the grant is open. Condition: . SF-425 Federal Financial Reports were not submitted by December 31st for open grants. Cause: The auditee expected to file the completed SF-425 Federal Financial Reports at the completion of the project rather than at December 31st. Effect: Delayed reporting on the SF-425 Federal Financial Reports. Questioned Costs: N/A Recommendation: We recommend SF-425 Federal Financial Reports be completed and filed annually by December 31st for open grants with this requirement. Management’s Response: Agree Contact Person: Cooper Anderson, Airport Director

Corrective Action Plan

The Airport has coordinated with the FAA Airport District Offic Planner and will submit the outstanding SF-425 for the grants open as of 12/31/2024 upon project close out in 2025. Going forward, SF-425 reports will be filed annually by December 31st for all open grants. The Business Manager and Airport Director will mainain a compliance calendar to ensure timely submission of future reports.

Categories

Reporting

Programs in Audit

ALN Program Name Expenditures
20.106 Airport Improvement Program, Infrastructure Investment and Jobs Act Programs, and Covid-19 Airports Programs $1.20M