FAC Explorer

Finding 1222571 (2024-002)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2026-06-30
Audit: 406173
Organization: LIFE Academy (AL)
Auditor: SCHOOL CHOICE CPA & ASSOCIATES

AI Summary

  • Answer: Management failed to secure necessary audits for entities spending over $750,000 in federal funds.
  • Trend: This oversight indicates a potential pattern of non-compliance with federal regulations.
  • List: Immediate action is needed to ensure audits are obtained and to review compliance processes moving forward.

Finding Text

Management did not obtain the required audits for entities that expend federal funds in excess of $750,000 in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).

Corrective Action Plan

Life Academy will work to complete the audit for the fiscal year no later than nine months after the end of the audit period.

Categories

Allowable Costs / Cost Principles

Other Findings in this Audit

  • 1222572 2024-003
    Material Weakness Repeat
  • 1222573 2024-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 EDUCATION STABILIZATION FUND $1.14M
10.555 NATIONAL SCHOOL LUNCH PROGRAM $279,247
84.282 CHARTER SCHOOLS $239,555
84.027 SPECIAL EDUCATION GRANTS TO STATES $120,193
10.553 SCHOOL BREAKFAST PROGRAM $83,833
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $29,794
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $18,992