EIN: 264686308
UEI: NACYKDTH46J7
Audited by: MAULDIN AND JENKINS
Oversight agency: 10 [Department of Agriculture]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 12, 2026. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by September 12, 2026 (2 days from today).
What is a management decision? →The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy did not transfer funds during the year as required in the loan agreement. Effect: As of June 30, 2025, the Academy should have had $402,886 set aside in a Reserve Account. The actual balance as of June 30, 2025 was $341,338. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will implement a process to ensure reserve deposits are made timely..
Show full finding ▾Hide full finding ▴Criteria: Per review of loan agreement, the Academy is required to set aside funds monthly until an amount of $619,824 is set aside in a Reserve Account. Condition: The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy did not transfer funds during the year as required in the loan agreement. Effect: As of June 30, 2025, the Academy should have had $402,886 set aside in a Reserve Account. The actual balance as of June 30, 2025 was $341,338. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will implement a process to ensure reserve deposits are made timely..
Management will implement a process to ensure reserve deposits are made timely.
FAC accepted this audit on March 12, 2026 — management decision was due September 12, 2026.
The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy did not transfer funds during the year as required in the loan agreement. Effect: As of June 30, 2025, the Academy should have had $402,886 set aside in a Reserve Account. The actual balance as of June 30, 2025 was $341,338. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will implement a process to ensure reserve deposits are made timely..
Show full finding ▾Hide full finding ▴Criteria: Per review of loan agreement, the Academy is required to set aside funds monthly until an amount of $619,824 is set aside in a Reserve Account. Condition: The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy did not transfer funds during the year as required in the loan agreement. Effect: As of June 30, 2025, the Academy should have had $402,886 set aside in a Reserve Account. The actual balance as of June 30, 2025 was $341,338. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will implement a process to ensure reserve deposits are made timely..
Management will implement a process to ensure reserve deposits are made timely.
FAC accepted this audit on November 27, 2024 — management decision was due May 27, 2025.
FAC accepted this audit on November 27, 2024 — management decision was due May 27, 2025.
FAC accepted this audit on June 5, 2024 — management decision was due December 5, 2024.
The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2023, the Academy should have had $278,921 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Show full finding ▾Hide full finding ▴Criteria: Per review of loan agreement, the Academy is required to set aside funds monthly until an amount of $619,824 is accumulated in a Reserve Account. Condition: The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2023, the Academy should have had $278,921 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Management will create a Reserve Account to be in compliance with the USDA Loan Agreement Anticipated Completion Date: Fiscal year 2024
2022-001
FAC accepted this audit on June 5, 2024 — management decision was due December 5, 2024.
The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2023, the Academy should have had $278,921 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Show full finding ▾Hide full finding ▴Criteria: Per review of loan agreement, the Academy is required to set aside funds monthly until an amount of $619,824 is accumulated in a Reserve Account. Condition: The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2023, the Academy should have had $278,921 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Management will create a Reserve Account to be in compliance with the USDA Loan Agreement Anticipated Completion Date: Fiscal year 2024
2022-001
FAC accepted this audit on June 5, 2024 — management decision was due December 5, 2024.
The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2022, the Academy should have had $216,938 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Show full finding ▾Hide full finding ▴Criteria: Per review of loan agreement, the Academy is required to set aside funds monthly until an amount of $619,824 is accumulated in a Reserve Account. Condition: The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2022, the Academy should have had $216,938 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Management will create a Reserve Account to be in compliance with the USDA Loan Agreement Anticipated Completion Date: Fiscal year 2024
FAC accepted this audit on June 5, 2024 — management decision was due December 5, 2024.
The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2022, the Academy should have had $216,938 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Show full finding ▾Hide full finding ▴Criteria: Per review of loan agreement, the Academy is required to set aside funds monthly until an amount of $619,824 is accumulated in a Reserve Account. Condition: The Academy does not have sufficient funds in the Reserve Account in accordance with the loan agreement. Context: The Academy does not have a Reserve Account as required by the loan agreement. Effect: As of June 30, 2022, the Academy should have had $216,938 set aside in a Reserve Account. Cause: Management oversight. Recommendation: We recommend the Academy implement effective controls to ensure compliance with the loan agreement. Views of Responsible Officials and Planned Corrective Action: We concur. The Academy will create a Reserve Account to be in compliance with the loan agreement.
Management will create a Reserve Account to be in compliance with the USDA Loan Agreement Anticipated Completion Date: Fiscal year 2024
FAC accepted this audit on June 5, 2024 — management decision was due December 5, 2024.
FAC accepted this audit on June 5, 2024 — management decision was due December 5, 2024.
FAC accepted this audit on August 22, 2021 — management decision was due February 22, 2022.
FAC accepted this audit on November 14, 2018 — management decision was due May 14, 2019.
FAC accepted this audit on January 8, 2018 — management decision was due July 8, 2018.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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