Finding Text
2022-001 ? Reporting, Level of Effort, and Earmarking Program: AL # 21.024 ? Community Development Financial Institutions Rapid Response Program (CDFI RRP) Sponsor Award Number: 21RRP057316 Sponsor Agency: U.S. Department of Treasury Criteria: Non-federal entities must establish and maintain effective internal controls to provide reasonable assurance that they can manage the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. The Organization must meet and report on certain performance goals as outlined in the Grant Assistance Agreement. Condition: Data elements including performance goals as reported on the Annual Performance Reports were originally unable to be supported or reconciled by the organization to the underlying loan and financial data. Cause: Internal controls did not exist to reconcile the data elements as reported on the Annual Performance Reports to the underlying loan and financial data. Effect: Performance goals as stipulated in the Grant Assistance Agreement may not be met or reported inaccurately. Questioned Costs: None. There were no instances of non-compliance noted. Context: Data elements as reported in the Annual Performance Reports were unable to be supported. Repeat Finding: No Recommendation: Establish control procedures to reconcile data elements reported to the underlying loan and financial data. Views of Responsible Officials: See Corrective Action Plan attached.