FAC Explorer

Finding 1173728 (2024-012)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2026-02-16
Audit: 387427
Organization: City of Bessemer (AL)
Auditor: THE PRINCIPAL & ASSOCIATES

AI Summary

  • Answer: The Electronic Municipal Market Access (EMMA) platform is essential for transparency in municipal securities, providing access to official statements and continuing disclosures.
  • Trend: There is an increasing reliance on EMMA for real-time data, highlighting the need for accurate and timely updates from issuers.
  • List: Follow up on compliance with disclosure requirements, ensure all relevant documents are uploaded promptly, and monitor user feedback for platform improvements.

Finding Text

Electronic Municipal Market Access

Corrective Action Plan

The City has filed the appropriate notices and will file the required annual fillings with the Municipal Securities Rulemaking Board via its Electric Municpal Marker Access (EMMA) system upon release of the City's finanical statements

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1173713 2024-013
    Material Weakness Repeat
  • 1173714 2024-013
    Material Weakness Repeat
  • 1173715 2024-013
    Material Weakness Repeat
  • 1173716 2024-013
    Material Weakness Repeat
  • 1173717 2024-013
    Material Weakness Repeat
  • 1173718 2024-013
    Material Weakness Repeat
  • 1173719 2024-013
    Material Weakness Repeat
  • 1173720 2024-013
    Material Weakness Repeat
  • 1173721 2024-012
    Material Weakness Repeat
  • 1173722 2024-012
    Material Weakness Repeat
  • 1173723 2024-012
    Material Weakness Repeat
  • 1173724 2024-012
    Material Weakness Repeat
  • 1173725 2024-012
    Material Weakness Repeat
  • 1173726 2024-012
    Material Weakness Repeat
  • 1173727 2024-012
    Material Weakness Repeat
  • 1173729 2024-001
    Material Weakness Repeat
  • 1173730 2024-001
    Material Weakness Repeat
  • 1173731 2024-001
    Material Weakness Repeat
  • 1173732 2024-001
    Material Weakness Repeat
  • 1173733 2024-001
    Material Weakness Repeat
  • 1173734 2024-001
    Material Weakness Repeat
  • 1173735 2024-001
    Material Weakness Repeat
  • 1173736 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $4.53M
20.205 HIGHWAY PLANNING AND CONSTRUCTION $1.83M
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $878,216
16.839 STOP SCHOOL VIOLENCE $228,571
16.922 EQUITABLE SHARING PROGRAM $153,617
16.738 EDWARD BYRNE MEMORIAL JUSTICE ASSISTANCE GRANT PROGRAM $68,184
16.726 JUVENILE MENTORING PROGRAM $48,352
95.001 HIGH INTENSITY DRUG TRAFFICKING AREAS PROGRAM $33,382