VALLEY ECONOMIC DEVELOPMENT PARTNERS INC.

EIN: 341264163

UEI: E7F1JUG81887

Data as of August 26, 2026

VALLEY ECONOMIC DEVELOPMENT PARTNERS INC.10 audit years1 findings
10
Audit Years
1
Total Findings
0
Repeat Findings

FY 2024-12-31

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on May 27, 2025. 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 November 27, 2025 (273 days ago).

What is a management decision? →
2024-001
Reporting

Valley Partners did not have a control to ensure the timely submission of the Single Audit reporting package for the year ended December 31, 2023. Criteria: In accordance with 2 CFR §200.512, the Single Audit reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors' report or nine months after the end of the audit period. Cause: Lack of management control activities to ensure compliance with Single Audit timely submission. Context: Due to turnover in the finance department, the Single Audit reporting package was not filed timely. Effect: The Single Audit reporting package was not filed timely. Repeat finding from prior year: No. Questioned costs: None. Sampling statistically valid: Not applicable. Recommendation: Valley Partners should ensure proper controls are in place so the Single Audit reporting package is filed timely. View of responsible official and corrective Valley Partners agrees with the finding and will work to ensure controls are in action plan: place so that the Single Audit reporting package is filed timely going forward.

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Full finding narrative

Compliance: Failure to Comply with Reporting Requirements Category: Internal Control and Noncompliance with Federal Program Requirements Condition: Valley Partners did not have a control to ensure the timely submission of the Single Audit reporting package for the year ended December 31, 2023. Criteria: In accordance with 2 CFR §200.512, the Single Audit reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors' report or nine months after the end of the audit period. Cause: Lack of management control activities to ensure compliance with Single Audit timely submission. Context: Due to turnover in the finance department, the Single Audit reporting package was not filed timely. Effect: The Single Audit reporting package was not filed timely. Repeat finding from prior year: No. Questioned costs: None. Sampling statistically valid: Not applicable. Recommendation: Valley Partners should ensure proper controls are in place so the Single Audit reporting package is filed timely. View of responsible official and corrective Valley Partners agrees with the finding and will work to ensure controls are in action plan: place so that the Single Audit reporting package is filed timely going forward.

Corrective Action Plan

Valley Partners agrees with the finding and will work to ensure controls are in place so that the Single Audit reporting package is filed timely going forward.

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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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