FAC Explorer

Finding 1163360 (2024-002)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-12-03
Audit: 372870
Organization: Franklin-Vance-Warren Opportunity, INC (NC)
Auditor: TPO CPA PLLC

AI Summary

  • Core Issue: The organization missed deadlines for submitting both unaudited and audited financial information.
  • Impacted Requirements: Financial data was due by August 31, 2024, for unaudited and March 31, 2025, for audited reports.
  • Recommended Follow-Up: Ensure timely submission of financial reports to meet compliance deadlines.

Finding Text

THE ORGANIZATION DOES NOT APPEAR TO HAVE SUBMITTED ITS UNAUDITED AND AUDITED FINANCIAL INDORMATION AS REQUIRED WITHIN A SPECIFIED TIMELINE - AUGUST 31, 2024 FOR ITS UNAUDITED AND MARCH 31, 2025 FOR ITS AUDITED FINANCIAL DATA.

Corrective Action Plan

MANAGEMENT AGREE WITH FINDING 2024-002 AND THE RECOMMENDATION DESCRIBED IN THE ACCOMPANYING SCHEDULE OF FINDINGS AND QUESTIONED COSTS.

Categories

No categories assigned yet.

Programs in Audit

ALN Program Name Expenditures
93.600 HEAD START $3.97M
14.871 SECTION 8 HOUSING CHOICE VOUCHERS $3.46M
93.568 LOW-INCOME HOME ENERGY ASSISTANCE $760,454
93.569 COMMUNITY SERVICES BLOCK GRANT $440,426
10.558 CHILD AND ADULT CARE FOOD PROGRAM $371,967
81.042 WEATHERIZATION ASSISTANCE FOR LOW-INCOME PERSONS $226,250
10.351 RURAL BUSINESS DEVELOPMENT GRANT $86,956