FAC Explorer

Finding 26004 (2022-003)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-09-28
Audit: 17862
Organization: San Luis Valley Development Resources Group (CO)
Auditor: Wall Smith Bateman INC

AI Summary

  • Answer: There is a significant issue with internal controls over federal awards, classified as a material weakness.
  • Trend: This finding is related to a previous issue (Finding 2022-001) that also affects federal awards.
  • List: Follow up on the grantee's corrective action plan to ensure proper controls are implemented.

Finding Text

Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: See Corrective Action Plan.

Corrective Action Plan

Finding 2022-003: Internal Control Over Federal Awards Type of Finding: Internal Control (material weakness) Finding 2022-001 also applies to Federal Awards. Grantee?s Response: Management is aware of the internal control weaknesses in relation to reporting for Federal Awards. As discussed in the response to Finding 2022-001, management is implementing detailed monthly controlled procedures, reconciliations, and documentation in support of accurate and complete reporting for Federal Awards. The implementation of these can be expected to be completed by March 31, 2024. If there are any questions regarding this plan, please call the responsible party at (719) 589-6099. Sarah Stoeber, Executive Director Alisha Todd, Acting Controller San Luis Valley Development Resources Group CFO Systems

Categories

Material Weakness Internal Control / Segregation of Duties

Other Findings in this Audit

  • 26005 2022-003
    Material Weakness
  • 26006 2022-003
    Material Weakness
  • 26007 2022-003
    Material Weakness
  • 26008 2022-002
    Material Weakness
  • 602446 2022-003
    Material Weakness
  • 602447 2022-003
    Material Weakness
  • 602448 2022-003
    Material Weakness
  • 602449 2022-003
    Material Weakness
  • 602450 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $963,596
11.307 Covid-19 Economic Adjustment Assistance - Eda Rlf $926,178
10.767 Intermediary Relending Program $749,840
11.307 Economic Adjustment Assistance - Eda Recap $418,304
11.307 Economic Adjustment Assistance - Eda Title Ix $170,052
93.569 Community Services Block Grant $153,017
11.302 Covid-19 Economic Development_support for Planning Organizations $108,840
93.569 Covid-19 Community Services Block Grant $93,422
59.037 Small Business Development Centers $80,000
11.302 Economic Development_support for Planning Organizations $70,000
59.037 Covid-19 Small Business Development Centers $50,622
20.205 Highway Planning and Construction $8,457