EIN: 421089164
UEI: W7DKDJ5AVHQ4
Audited by: Denman CPA LLP
Oversight agency: 21 [Department of the Treasury]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 30, 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 January 30, 2025 (580 days ago).
What is a management decision? →The Association does not maintain sufficient segregation of duties to prevent one individual from having control over the disbursements process, as one individual performs posting of disbursements, preparation of checks, and general ledger reconciliation. Cause: The Association does not have sufficient staffing to ensure multiple individuals are involved in all significant accounting controls and transaction cycles. Effect: One individual may have complete control over certain transactions without adequate checks and balances or reviews being implemented. Recommendation: Resolving the deficiency may require the Association to hire additional personnel necessary to adequately separate accounting responsibilities. This solution may result in a substantial increase in operating costs. The other action would be to accept that by definition there is a significant deficiency in internal control and the cost of eliminating that deficiency may exceed the benefit. Management should continue to provide adequate oversight of these functions if unable to cost effectively segregate duties further. Management’s response: The Association has implemented controls to help mitigate the segregation of duties issue noted. The CEO reviews and approves all invoices prior to payment. The Association provides a list of disbursements to the Board of Directors monthly as well as a completed set of financial statements. Management, including the Board of Directors, continues to have discussions regarding cost effective methods to obtain additional controls, including potential new staff and realignment of duties, however, at this time, the Association has determined that the cost of eliminating this deficiency would exceed its benefit. Conclusion: Response accepted.
Show full finding ▾Hide full finding ▴Segregation of duties Prior year finding number: 2022-001 Criteria: Segregation of duties should be in place to ensure appropriate checks and balances and to mitigate incompatible duties being performed by one individual over key financial and compliance functions. Condition: The Association does not maintain sufficient segregation of duties to prevent one individual from having control over the disbursements process, as one individual performs posting of disbursements, preparation of checks, and general ledger reconciliation. Cause: The Association does not have sufficient staffing to ensure multiple individuals are involved in all significant accounting controls and transaction cycles. Effect: One individual may have complete control over certain transactions without adequate checks and balances or reviews being implemented. Recommendation: Resolving the deficiency may require the Association to hire additional personnel necessary to adequately separate accounting responsibilities. This solution may result in a substantial increase in operating costs. The other action would be to accept that by definition there is a significant deficiency in internal control and the cost of eliminating that deficiency may exceed the benefit. Management should continue to provide adequate oversight of these functions if unable to cost effectively segregate duties further. Management’s response: The Association has implemented controls to help mitigate the segregation of duties issue noted. The CEO reviews and approves all invoices prior to payment. The Association provides a list of disbursements to the Board of Directors monthly as well as a completed set of financial statements. Management, including the Board of Directors, continues to have discussions regarding cost effective methods to obtain additional controls, including potential new staff and realignment of duties, however, at this time, the Association has determined that the cost of eliminating this deficiency would exceed its benefit. Conclusion: Response accepted.
The Association has implemented controls to help mitigate the segregation of duties issue noted. The CEO reviews and approves all invoices prior to payment. The Association provides a list of disbursements to the Board of Directors monthly as well as a completed set of financial statements. Management, including the Board of Directors, continues to have discussions regarding cost effective methods to obtain additional controls, including potential new staff and realignment of duties, however, at this time, the Association has determined that the cost of eliminating this deficiency would exceed its benefit.
2022-001
FAC accepted this audit on September 25, 2018 — management decision was due March 25, 2019.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴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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