FAC Explorer

Finding 571117 (2024-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-07-11
Audit: 361991
Organization: City of Marion (SC)
Auditor: Kenneth Cobb & Company PC

AI Summary

  • Answer: The City is not preparing its own annual financial statements and footnotes.
  • Trend: This practice may lead to reliance on external auditors for critical financial reporting.
  • List: Recommend establishing a process for the City to prepare its own statements to ensure accuracy and accountability.

Finding Text

The City does not prepare its annual financial statements and footnote disclosures. The City staff work with the auditor in the preparation and subsequently reviews and approves all statements and disclosures before issuance.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 571109 2024-001
    Significant Deficiency Repeat
  • 571110 2024-002
    Significant Deficiency Repeat
  • 571111 2024-001
    Significant Deficiency Repeat
  • 571112 2024-002
    Significant Deficiency Repeat
  • 571113 2024-001
    Significant Deficiency Repeat
  • 571114 2024-002
    Significant Deficiency Repeat
  • 571115 2024-001
    Significant Deficiency Repeat
  • 571116 2024-002
    Significant Deficiency Repeat
  • 571118 2024-002
    Significant Deficiency Repeat
  • 1147551 2024-001
    Significant Deficiency Repeat
  • 1147552 2024-002
    Significant Deficiency Repeat
  • 1147553 2024-001
    Significant Deficiency Repeat
  • 1147554 2024-002
    Significant Deficiency Repeat
  • 1147555 2024-001
    Significant Deficiency Repeat
  • 1147556 2024-002
    Significant Deficiency Repeat
  • 1147557 2024-001
    Significant Deficiency Repeat
  • 1147558 2024-002
    Significant Deficiency Repeat
  • 1147559 2024-001
    Significant Deficiency Repeat
  • 1147560 2024-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $382,464
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $104,044
93.959 Block Grants for Prevention and Treatment of Substance Abuse $1,500
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $500