FAC Explorer

Finding 563805 (2023-004)

Significant Deficiency
Requirement
LN
Questioned Costs
-
Year
2023
Accepted
2025-06-04
Audit: 358013
Organization: Taylor Regional Hospital, Inc. (GA)
Auditor: Draffin & Tucker LLP

AI Summary

  • Answer: The Reserve Account for the USDA loan was underfunded at year-end.
  • Trend: Cash flow issues impacted the ability to meet funding requirements.
  • List: The Hospital needs to fund the Reserve Account to the required level of $293,362 as soon as possible.

Finding Text

2023-004 - Significant Deficiency Federal agency: U.S. Department of Agriculture (USDA): Rural Development Federal program title: Community Facilities Loans and Grants Assistance Listing No.: 10.766 Condition: The Reserve Account was underfunded at year-end. Criteria: The USDA loan requires $29,366 be set aside into a Reserve Account annually until there is $293,362 accumulated. Cause: Cash flow issues near year-end did not allow for proper funding in the Reserve Account. Effect: The Hospital was in compliance with the terms of the USDA loan. Recommendation: The Hospital should immediately fund the Reserve Account to the proper funding level required by the USDA loan. Views of Responsible Officials: See management's corrective action plan: 2023-002

Corrective Action Plan

Taylor Regional Hospital (Hospital) respectfully submits the following corrective action plan for the year ended March 31, 2023. The findings from the March 31, 2023 Schedule of Findings and Questioned Costs is discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FEDERAL AWARD PROGRAMS AUDIT FINDINGS Significant Deficiency (2023-004) Recommendation: The Hospital should immediately fund the Reserve Account to the proper funding level required by the USDA loan. Planned Corrective Action: The hospital agrees with this finding. See 2023-002.

Categories

Significant Deficiency Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 1140247 2023-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
93.498 Provider Relief Fund $1.80M
10.766 Community Facilities Loans and Grants $1.47M
93.697 Covid-19 Testing for Rural Health Clinics $332,668
93.155 Rural Health Research Centers $91,081
93.301 Small Rural Hospital Improvement Grant Program $7,300