EIN: 310915296
UEI: VLC7S9N6BEC3
Data as of August 26, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on December 23, 2024. 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 June 23, 2025 (429 days ago).
What is a management decision? →Program Assistance Listing Number 14.157 - Development Section 202/223(f) - Loan, Repeat Finding from Prior Year: No, Questioned Costs: no, Condition - Independence Industries did not make the required annual deposit to the residual receipts account within 90 days following year end of September 30, 2023, Effect - Independence Industries did not meet the special tests and provisions requirements related to the residutal receipts for 2024, Cause - Due to oversight at Independence Industries, the required annual deposit to the residual receipts was not made within 90 days following the year end of September 30, 2023, Criteria - Federal grant requirements state the required annual deposit to the residual receipts is to be made within 90 days following year end, Recommendation - Implelemt controls to ensure future deposits to residtual receipts are completed in a timely manner, Management Response - Independence Industries agrees with the finding and will implement stricter adherence to the deadlines and ensure that all deposits to the residual receipts are completed on time.
Show full finding ▾Hide full finding ▴Program Assistance Listing Number 14.157 - Development Section 202/223(f) - Loan, Repeat Finding from Prior Year: No, Questioned Costs: no, Condition - Independence Industries did not make the required annual deposit to the residual receipts account within 90 days following year end of September 30, 2023, Effect - Independence Industries did not meet the special tests and provisions requirements related to the residutal receipts for 2024, Cause - Due to oversight at Independence Industries, the required annual deposit to the residual receipts was not made within 90 days following the year end of September 30, 2023, Criteria - Federal grant requirements state the required annual deposit to the residual receipts is to be made within 90 days following year end, Recommendation - Implelemt controls to ensure future deposits to residtual receipts are completed in a timely manner, Management Response - Independence Industries agrees with the finding and will implement stricter adherence to the deadlines and ensure that all deposits to the residual receipts are completed on time.
We will implement stricter adherence to deadlines and ensure that all required annual deposits to residual receipts are completed within 90 days of year end.
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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