Finding Text
Criteria: When the Federal expenditures are over $750,000 the Schedule of Federal Awards (SEFA) is presented along with the financial statements in additional supplementary information. The SEFA is to be presented on the same basis of accounting as the Airport?s financial statements unless disclosed. 2 CFR 200.303 states, the Airport, as a recipient of federal funds, must establish and maintain effective internal controls over its federal awards that provides reasonable assurance that the Airport is managing the federal awards in compliance with federal statutes, regulations, and the award terms and conditions. Condition: During our testing, we noted the Airport had not correctly calculated the expenditures for the GRANT AIP 3-56-0005-057-2020. Certain expenditures had been reported on the prior year and others were omitted. The SEFA presented in this report has been adjusted to correct for the errors noted. Cause: Administrative oversight, likely due to changes in accounting personnel. Questioned Costs: None noted. Repeat Finding: No Recommendation: We recommend that the Airport develop a process to review the SEFA prior to submission for audit. Response: Please see final page of this report for management?s response as found on the Airport?s letterhead.