Finding Text
Item 2022-001 ? Period of Performance: Lack of internal controls Federal Program ? U.S. Small Business Administration Covid-19-Shuttered Venue Operators Grant Program CFDA Number ? 59.075 Significant deficiency Criteria: Recipients that receive an initial SVOG award will be able to spend award funds over a 12-month period after the award issuance date for eligible and allowable costs incurred between March 1, 2020, and December 31, 2021. Recipients that receive a supplemental award will be able to spend all award funds (both initial and supplemental phase awards) received over an 18-month period after the initial phase award issuance date for eligible and allowable costs incurred between March 1, 2020, and June 30, 2022 (Eligible Cost Period). Condition/context: It was identified that Tulsa Performing Arts Center lacked sufficient controls to ensure the items charged to the grant were accurately reported in the correct period in accordance with grant requirements. Cause: Tulsa Performing Arts Center lacked sufficient controls for period of performance. Effect: Charges could have occurred outside of the period of performance and charged to the grant. Recommendation: Each charge to the grant should be reviewed by management to ensure the expenditure was incurred in the period of performance and such review must be documented. View of responsible officials: Management's response is reported in "Management's Views and Corrective Action Plan" at the end of this report.