EIN: 396006345
UEI: GSA_MIGRATION
Audited by: BAUMAN ASSOCIATES, LTD.
Oversight agency: 10 [Department of Agriculture]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on August 27, 2020. 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 February 27, 2021 (2010 days ago).
What is a management decision? →Lack of knowledge to prepare financial statements and notes in accordance with generallyaccepted accounting principles (GAAP)2019-002 - The Village?s management is responsible for establishing and maintaining internalcontrol and for the fair presentation of the Utility?s financial statements and related notedisclosures in conformity with U.S. generally accepted accounting principles (GAAP). TheVillage is also responsible for preparing cash to modified accrual adjustments for itsgovernmental funds? financial statements as well as the government-wide adjustments. TheVillage does not have a system of internal control that would provide management with areasonable assurance that the Village?s financial statements and related disclosures are completeand presented in accordance with GAAP, as management is not trained in GAAP financialreporting. As such, management has requested us to prepare a draft of the financial statementsincorporating the cash to modified accrual adjustments for governmental fund and thegovernment-wide financial statement adjustments and related note disclosures. With numeroushighly technical Governmental Accounting Standards Board pronouncements, this is a verycommon finding in audits of municipalities of your size.Views of responsible officials ? The Village of Plum City does not see a benefit to havingClerk/Treasurer further education to properly prepare financials and notes in accordance withGASB standards. The Village relies on the assistance from the auditor to take the Village?sinformation and draft the financials and notes.
Show full finding ▾Hide full finding ▴Lack of knowledge to prepare financial statements and notes in accordance with generallyaccepted accounting principles (GAAP)2019-002 - The Village?s management is responsible for establishing and maintaining internalcontrol and for the fair presentation of the Utility?s financial statements and related notedisclosures in conformity with U.S. generally accepted accounting principles (GAAP). TheVillage is also responsible for preparing cash to modified accrual adjustments for itsgovernmental funds? financial statements as well as the government-wide adjustments. TheVillage does not have a system of internal control that would provide management with areasonable assurance that the Village?s financial statements and related disclosures are completeand presented in accordance with GAAP, as management is not trained in GAAP financialreporting. As such, management has requested us to prepare a draft of the financial statementsincorporating the cash to modified accrual adjustments for governmental fund and thegovernment-wide financial statement adjustments and related note disclosures. With numeroushighly technical Governmental Accounting Standards Board pronouncements, this is a verycommon finding in audits of municipalities of your size.Views of responsible officials ? The Village of Plum City does not see a benefit to havingClerk/Treasurer further education to properly prepare financials and notes in accordance withGASB standards. The Village relies on the assistance from the auditor to take the Village?sinformation and draft the financials and notes.
Finding Number: 2019-002 (also a federal award finding as it relates to the schedule ofexpenditures of federal awards)Material Weakness ? Lack of knowledge to prepare financial statements and notes inaccordance with generally accepted accounting principles (GAAP)Fiscal Year: 2020Village?s Response: We concur.Views of Responsible Officials and Corrective Action: The Village of Plum City does not see abenefit to having Clerk/Treasurer further education to properly prepare financials and notes inaccordance with GASB standards. The Village relies on the assistance from the auditor to take theVillage?s information and draft the financials and notes.Name of Responsible Person: Roxanne Gilles, Clerk/TreasurerProjected Implementation Date: Estimated, December 2020
Material auditor-discovered adjusting journal entries2019-003 - The Village?s management is responsible for establishing and maintaining internalcontrol relative to all adjustments required to be recorded so that the financial statements arefairly presented in accordance with generally accepted accounting principles. We noted auditordiscoveredadjustments in the sewer utility to reclassify the costs of a pump from expense tocapital, an entry to record the grant receivable relative to construction work and an entry torecord the related grant receivable and accounts payable relative to retainages payable onconstruction projects at the end of the year. The existence of these material auditor-discoveredadjustments is an indication that the Village lacks an adequate system of internal control toprevent and detect misstatements such as these. Although the construction project is an unusualevent for the Village, we recommend that the Village reviews the activity in the sewer utility atyear-end to consider and record all such adjustments.Views of responsible officials ? Going forward, the Village will review adjustments and makesure they are recorded. The General
Show full finding ▾Hide full finding ▴Material auditor-discovered adjusting journal entries2019-003 - The Village?s management is responsible for establishing and maintaining internalcontrol relative to all adjustments required to be recorded so that the financial statements arefairly presented in accordance with generally accepted accounting principles. We noted auditordiscoveredadjustments in the sewer utility to reclassify the costs of a pump from expense tocapital, an entry to record the grant receivable relative to construction work and an entry torecord the related grant receivable and accounts payable relative to retainages payable onconstruction projects at the end of the year. The existence of these material auditor-discoveredadjustments is an indication that the Village lacks an adequate system of internal control toprevent and detect misstatements such as these. Although the construction project is an unusualevent for the Village, we recommend that the Village reviews the activity in the sewer utility atyear-end to consider and record all such adjustments.Views of responsible officials ? Going forward, the Village will review adjustments and makesure they are recorded. The General
Finding Number: 2019-003 (also a federal award finding as it relates to the schedule ofexpenditures of federal awards)Material weakness ? Internal Control Over Compliance Related to Impact AidFiscal Year: 2020Village?s Response: We concur.Views of Responsible Officials and Corrective Action: Going forward, the Village will reviewadjustments and make sure they are recorded. The General Ledger for the Sewer Department willalso be provided to Trustee Peggy Gilles for reviewName of Responsible Person: Roxanne Gilles, Clerk/TreasurerProjected Implementation Date: Estimated, August 2020
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