EIN: 420843078
UEI: F731TFN659M5
Audited by: ROOF, GERDES, ERLBACHER, PLC
Oversight agency: 11 [Department of Commerce]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 19, 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 August 19, 2026 (16 days ago).
What is a management decision? →FAC accepted this audit on March 10, 2025 — management decision was due September 10, 2025.
FAC accepted this audit on March 21, 2024 — management decision was due September 21, 2024.
FAC accepted this audit on March 5, 2023 — management decision was due September 5, 2023.
FAC accepted this audit on March 31, 2022 — management decision was due October 1, 2022.
III-A-21 Loan Requirements (2021-001) Criteria ? The EDA requires the Commission to obtain and maintain certain documentation from borrowers in relation to loans made by them. Condition ? For one loan tested, the Commission did not obtain the continuing compliance documentation as required by the loan agreements. Specifically, the Commission did not obtain proof in insurance and financial documentation as required by the loan agreement with the borrower. Cause ? Procedures have not been designed to ensure required loan documentation is received as required on a continuing basis. Effect ? Due to the failure to follow procedures, the Commission may be out of compliance with its internal requirements and with the EDA requirements. Recommendation ? The Commission should ensure all loan requirements are followed in the future. Response and Corrective Action Planned ? In the future, we will ensure compliance with these provisions. Conclusion ? Response acknowledged.
Show full finding ▾Hide full finding ▴III-A-21 Loan Requirements (2021-001) Criteria ? The EDA requires the Commission to obtain and maintain certain documentation from borrowers in relation to loans made by them. Condition ? For one loan tested, the Commission did not obtain the continuing compliance documentation as required by the loan agreements. Specifically, the Commission did not obtain proof in insurance and financial documentation as required by the loan agreement with the borrower. Cause ? Procedures have not been designed to ensure required loan documentation is received as required on a continuing basis. Effect ? Due to the failure to follow procedures, the Commission may be out of compliance with its internal requirements and with the EDA requirements. Recommendation ? The Commission should ensure all loan requirements are followed in the future. Response and Corrective Action Planned ? In the future, we will ensure compliance with these provisions. Conclusion ? Response acknowledged.
Comment Number: 2021-001 Comment Title: Loan Requirements Corrective Action Plan: This will be implemented on future loans. Contact Person, Title and Phone Number: Chris Bowers, Executive Director (641) 684-6551 Anticipated Date of Completion: Immediately
FAC accepted this audit on February 21, 2021 — management decision was due August 21, 2021.
FAC accepted this audit on January 22, 2020 — management decision was due July 22, 2020.
FAC accepted this audit on February 12, 2019 — management decision was due August 12, 2019.
FAC accepted this audit on February 14, 2018 — management decision was due August 14, 2018.
FAC accepted this audit on February 5, 2017 — management decision was due August 5, 2017.
GSA_MIGRATION
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2015-001
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2015-002
GSA_MIGRATION
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GSA_MIGRATION
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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