Finding 501136 (2023-001)

Material Weakness

Requirement

Questioned Costs

Year

2023

Accepted

2024-09-30

Audit: 323394

Organization: West Community Economic Development Corporation (CO)

Auditor: Ryan Gunsuals & O'Donnell LLC

AI Summary

Answer: The SEFA is missing assistance listing numbers and incorrectly reported a grant amount.
Trend: This issue indicates a pattern of inaccuracies in financial reporting.
List: Ensure future SEFA submissions include all necessary details and verify grant amounts for accuracy.

Finding Text

The SEFA prepared did not include assistance listing numbers and one grant (Economic Adjustment Assistance) was reported with an amount that was cumulative for both 2022 and 2023 expenditures.

Corrective Action Plan

West Community Development Corporation (dba BuCu West Development Center) agrees with the finding and recommendation. A finance director position was hired in March 2024 to support and improve accounting procedures and reporting including SEFA preparation to ensure full compliance with Uniform Guidance. Additionally, we implemented an upgraded invoicing platform and financial tracking system to better segregate and report federal award expenditures accurately and in a timely manner.

Other Findings in this Audit

501137 2023-002

Material Weakness
501138 2023-001

Material Weakness
501139 2023-001

Material Weakness
501140 2023-001

Material Weakness
501141 2023-001

Material Weakness
1077578 2023-001

Material Weakness
1077579 2023-002

Material Weakness
1077580 2023-001

Material Weakness
1077581 2023-001

Material Weakness
1077582 2023-001

Material Weakness
1077583 2023-001

Material Weakness

Programs in Audit

ALN	Program Name	Expenditures
11.307	Economic Adjustment Assistance	$777,289
14.218	Community Development Block Grants/entitlement Grants	$327,873
21.027	Coronavirus State and Local Fiscal Recovery Funds	$187,323
16.753	Congressionally Recommended Awards	$57,326
16.817	Byrne Criminal Justice Innovation Program	$17,134