FAC Explorer

Finding 563806 (2024-002)

Significant Deficiency Repeat Finding
Requirement
LN
Questioned Costs
-
Year
2024
Accepted
2025-06-04
Audit: 358016
Organization: Taylor Regional Hospital, Inc. (GA)
Auditor: Draffin & Tucker LLP

AI Summary

  • Core Issue: The Reserve Account for the USDA loan was underfunded at year-end.
  • Impacted Requirements: The USDA loan mandates an annual set-aside of $29,336 until a total of $293,362 is reached.
  • Recommended Follow-Up: The Hospital should promptly fund the Reserve Account to meet USDA requirements.

Finding Text

2024-002 - 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 $29,336 be set aside into a Reserve Account annually until there is $293,362 accumulated. Cause: Cash flow issues 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: 2024-001

Corrective Action Plan

Taylor Regional Hospital (Hospital) respectfully submits the following corrective action plan for the year ended March 31, 2024. The findings from the March 31, 2024 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 (2024-002) Planned Corrective Action: The hospital agrees with this finding. See 2024-001.

Categories

Significant Deficiency Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 1140248 2024-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
10.766 Community Facilities Loans and Grants $1.23M
93.155 Rural Health Research Centers $41,866
93.301 Small Rural Hospital Improvement Grant Program $1,500