EIN: 430797126
UEI: MKYZRWQKJ2T9
Data as of August 23, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 19, 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 December 19, 2025 (248 days ago).
What is a management decision? →A potential exists that a material misstatement of the financial statements could occur and not be prevented or detected by management’s internal controls. Criteria: Management is responsible for the accuracy and completeness of financial records and related information. Effect: The adjustments proposed impacted various financial statement line items. In total 7 adjusting journal entries were proposed with an aggregate impact to decrease total assets of approximately $217,000, decrease liabilities of approximately $64,000, and decrease in change in net assets of approximately $153,000. Cause: Management oversight. Recommendation: Management should evaluate monthly and year-end closing procedures to ensure appropriate recognition of accruals, revenue, and expenses. Management’s Response: Management has reviewed, agreed to, and posted the proposed adjusting journal entries to the Foundation’s general ledger.
Show full finding ▾Hide full finding ▴Condition: A potential exists that a material misstatement of the financial statements could occur and not be prevented or detected by management’s internal controls. Criteria: Management is responsible for the accuracy and completeness of financial records and related information. Effect: The adjustments proposed impacted various financial statement line items. In total 7 adjusting journal entries were proposed with an aggregate impact to decrease total assets of approximately $217,000, decrease liabilities of approximately $64,000, and decrease in change in net assets of approximately $153,000. Cause: Management oversight. Recommendation: Management should evaluate monthly and year-end closing procedures to ensure appropriate recognition of accruals, revenue, and expenses. Management’s Response: Management has reviewed, agreed to, and posted the proposed adjusting journal entries to the Foundation’s general ledger.
Material Misstatements Detected By the Audit Recommendation: Management should evaluate monthly and year-end closing procedures to ensure appropriate recognition of accruals, revenue, and expenses. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: A comprehensive review of monthly and year-end closing procedures will be completed by FMI Kansas to ensure appropriate recognition of accruals, revenue, and expenses. Name(s) of the contact person(s) responsible for corrective action: Tiffany Goetz Planned completion date for corrective action plan: Ongoing
The Foundation's internal controls over compliance were not effective. The calculation for the Replacement and Extension Account was not done so they were not able to determine if the account was properly funded. Questioned costs: None Context: During the audit, it was discovered that the Foundation was not calculating the required funding level for the Replacement and Extension Account nor funding the reserves in accordance with the Security Agreement. The reserve accounts were underfunded by approximately $38,000 for the year ended August 31, 2024. Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Repeat finding: Y Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2024. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
Show full finding ▾Hide full finding ▴Federal agency: U.S. Department of Agriculture Federal program title: Communities Facilities Loans & Grants Assistance Listing Number: 10.766 Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: September 1, 2023 through August 31, 2024 Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Compliance Requirement: Special Provisions Criteria or specific requirement: The Foundation has certain reserves with minimum funding requirements related to their USDA loan. Condition: The Foundation's internal controls over compliance were not effective. The calculation for the Replacement and Extension Account was not done so they were not able to determine if the account was properly funded. Questioned costs: None Context: During the audit, it was discovered that the Foundation was not calculating the required funding level for the Replacement and Extension Account nor funding the reserves in accordance with the Security Agreement. The reserve accounts were underfunded by approximately $38,000 for the year ended August 31, 2024. Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Repeat finding: Y Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2024. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
U.S. Department of Agriculture 2024-002 Communities Facilities Loans & Grants – Assistance Listing No. 10.766 Recommendation: We recommend the Foundation design controls to ensure that the calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The USDA has waived this requirement in past years. The community obtained a waiver for the current period. Name(s) of the contact person(s) responsible for corrective action: Tiffany Goetz Planned completion date for corrective action plan: June 2, 2025
2023-001
FAC accepted this audit on July 22, 2024 — management decision was due January 22, 2025.
The Foundation's internal controls over compliance were not effective. The calculation for the Replacement and Extension Account was not done so they were not able to determine if the account was properly funded. Questioned costs: None Context: During the audit, it was discovered that the Foundation was not calculating the required funding level for the Replacement and Extension Account nor funding the reserves in accordance with the Security Agreement. The reserve accounts were underfunded by approximately $61,000 for the year ended August 31, 2023. Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Repeat finding: N/A Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2023. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
Show full finding ▾Hide full finding ▴Federal agency: U.S. Department of Agriculture Federal program title: Communities Facilities Loans & Grants Assistance Listing Number: 10.766 Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: September 1, 2022 through August 31, 2023 Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Compliance Requirement: Special Provisions Criteria or specific requirement: The Foundation has certain reserves with minimum funding requirements related to their USDA loan. Condition: The Foundation's internal controls over compliance were not effective. The calculation for the Replacement and Extension Account was not done so they were not able to determine if the account was properly funded. Questioned costs: None Context: During the audit, it was discovered that the Foundation was not calculating the required funding level for the Replacement and Extension Account nor funding the reserves in accordance with the Security Agreement. The reserve accounts were underfunded by approximately $61,000 for the year ended August 31, 2023. Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Repeat finding: N/A Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2023. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2023. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
2022-001
FAC accepted this audit on May 30, 2023 — management decision was due November 30, 2023.
The Foundation's internal controls over compliance were not effective. The calculation for the Replacement and Extension Account was not done so they were not able to determine if the account was properly funded. Questioned costs: None Context: During the audit, it was discovered that the Foundation was not calculating the required funding level for the Replacement and Extension Account nor funding the reserves in accordance with the Security Agreement. The reserve accounts were underfunded by approximately $143,000 for the year ended August 31, 2022. Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Repeat finding: N/A Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2022. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
Show full finding ▾Hide full finding ▴2022 ? 001 Federal agency: U.S. Department of Agriculture Federal program title: Communities Facilities Loans & Grants Assistance Listing Number: 10.766 Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: September 1, 2021 through August 31, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Compliance Requirement: Special Provisions Criteria or specific requirement: The Foundation has certain reserves with minimum funding requirements related to their USDA loan. Condition: The Foundation's internal controls over compliance were not effective. The calculation for the Replacement and Extension Account was not done so they were not able to determine if the account was properly funded. Questioned costs: None Context: During the audit, it was discovered that the Foundation was not calculating the required funding level for the Replacement and Extension Account nor funding the reserves in accordance with the Security Agreement. The reserve accounts were underfunded by approximately $143,000 for the year ended August 31, 2022. Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Repeat finding: N/A Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2022. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
Cause: Management oversight. Effect: The Foundation could be out of compliance with the covenants of the Loan and Security Agreement. Recommendation: We recommend the Foundation design controls to ensure that calculation is completed in accordance with the loan agreement and funded in full prior to the end of each fiscal year. Views of responsible officials: There is no disagreement with the audit finding. A waiver of the funding requirement was obtained for the year ended August 31, 2022. Management will incorporate the funding calculation for the Replacement and Extension Account into the reconciliations to be performed and reevaluated monthly.
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