Finding Text
Condition: A single audit was not performed for a major program for the fiscal year ended June 30, 2023. Criteria: A single audit in accordance with the requirements set forth in the Uniform Guidance is required if total federal expenditures exceed $750,000 in a fiscal year. Federal expenditures exceeded $750,000 and the major program was a high-risk Type A program for the year ended June 30, 2023. Cause: The program required revolving loan fund drawdowns, which did not occur within the fiscal year funds were expended. Effect: The identified Type A high risk program was not tested as major. Questioned Costs: N/A Recommendation: Ensure management considers federal award compliance requirement and ensures that such requirements are satisfied each year. Views of Responsible Officials: Management will monitor major programs and ensure that they are tested when necessary. The grant in question was tested during 2024.