FAC Explorer

Finding 553811 (2023-003)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2025-04-02
Audit: 352462
Organization: Rural Community Development Resources (WA)
Auditor: Northwest CPA Group PLLC

AI Summary

  • Core Issue: The organization failed to file required reports for the CDFI Certification and grant by their due dates.
  • Impacted Requirements: Financial statements and performance reports due on June 30, 2024, and March 31, 2024, respectively, were not submitted.
  • Recommended Follow-Up: Address staffing shortages and improve oversight to ensure timely completion of all future reports.

Finding Text

Criteria: Filing the annual required CDFI Certification and reports, for 21.024 US Department of Treasury, Community Development Financial Institutions Rapid Response Grant covering the performance period January 1, 2023, through December 31, 2023, by their appropriate due dates. Condition: Financial statements for the year ended December 31, 2023, were due June 30, 2024. Performance Progress Reports, Uses of Award Reports, and documentation of annual CDFI Certification for the year ended December 31, 2023, were due March 31, 2024. None of the above reports were filed. Cause: Due to a shortage of staffing and oversight, the Organization did not complete reports required by grant/granting agency.

Corrective Action Plan

Develop external reporting matrix/schedule and report it to the Board of Directors by March 2025

Categories

Period of Performance Internal Control / Segregation of Duties

Other Findings in this Audit

  • 553809 2023-001
    Material Weakness Repeat
  • 553810 2023-002
    Material Weakness Repeat
  • 1130251 2023-001
    Material Weakness Repeat
  • 1130252 2023-002
    Material Weakness Repeat
  • 1130253 2023-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
21.024 Community Development Financial Institutions Rapid Response Program (cdfi Rrp) $1.11M
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $327,755
10.769 Rural Business Enterprise Grants $240,979
93.570 Community Services Block Grant Discretionary Awards $236,178
21.020 Community Development Financial Institutions Program $47,270
11.307 Economic Adjustment Assistance $28,003
10.311 Beginning Farmer and Rancher Development Program $75