EIN: 431146626
UEI: GSA_MIGRATION
Audited by: ALLEN, GIBBS & HOULIK, L.C.
Oversight agency: 21 [Department of the Treasury]
View federal awards & risk assessment →
Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 24, 2022. 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 September 24, 2022 (1446 days ago).
What is a management decision? →2 CFR Part 200, section 200.510 requires the Corporation to prepare a schedule of expenditures of federal awards (SEFA) for the period covered by the financial statements. We noted that expenditures related to the Corporation?s grant program were not recorded in the financial statements nor on a SEFA. Criteria: An entity that expends federal awards must have controls in place that would enable the entity to prepare a SEFA including controls that determine the accuracy of the amount of expenditures reported for each federal program. Cause: The Corporation received a new federal program which wasn?t included on the SEFA. Effect: The lack of an accurate and complete SEFA could lead to grant noncompliance and noncompliance with Subpart F, Audit Requirements, of 2 CFR Part 200. Recommendation: We recommend management and staff complete annual training related to single audits and the preparation of the SEFA. Management?s Response (Unaudited): Management agrees with Finding 2021-003 and will ensure that management and staff receive annual training relating to single audits and the preparation of the SEFA. Management notes that although SEFAs are generally required for federal awards over $750,000, the specific guidance for the Coronavirus Aid, Relief and Economic Security Act, was not published until after the contracts with the City were executed. Responsible Staff: Interim CEO and third-party accounting firm Anticipated Completion Date: Management will confirm that the third-party accounting firm has appropriate training relating to single audits, and EDC will ensure that any EDC accounting employees have appropriate annual training. EDC anticipates retaining the third-party accounting firm in December 2021 or January 2022. Training of any EDC employees will be done as soon as possible after the hire date, and as training opportunities are available, and repeated annually.
Show full finding ▾Hide full finding ▴Finding 2021-003: Schedule of Expenditures of Federal Awards (Significant Deficiency) Condition: 2 CFR Part 200, section 200.510 requires the Corporation to prepare a schedule of expenditures of federal awards (SEFA) for the period covered by the financial statements. We noted that expenditures related to the Corporation?s grant program were not recorded in the financial statements nor on a SEFA. Criteria: An entity that expends federal awards must have controls in place that would enable the entity to prepare a SEFA including controls that determine the accuracy of the amount of expenditures reported for each federal program. Cause: The Corporation received a new federal program which wasn?t included on the SEFA. Effect: The lack of an accurate and complete SEFA could lead to grant noncompliance and noncompliance with Subpart F, Audit Requirements, of 2 CFR Part 200. Recommendation: We recommend management and staff complete annual training related to single audits and the preparation of the SEFA. Management?s Response (Unaudited): Management agrees with Finding 2021-003 and will ensure that management and staff receive annual training relating to single audits and the preparation of the SEFA. Management notes that although SEFAs are generally required for federal awards over $750,000, the specific guidance for the Coronavirus Aid, Relief and Economic Security Act, was not published until after the contracts with the City were executed. Responsible Staff: Interim CEO and third-party accounting firm Anticipated Completion Date: Management will confirm that the third-party accounting firm has appropriate training relating to single audits, and EDC will ensure that any EDC accounting employees have appropriate annual training. EDC anticipates retaining the third-party accounting firm in December 2021 or January 2022. Training of any EDC employees will be done as soon as possible after the hire date, and as training opportunities are available, and repeated annually.
View of Responsible Official: In FY 20-21, staff failed to prepare a Schedule of Expenditure of Federal Awards for the Coronavirus Aid, Relief and Economic Security Act Grants. Corrective Actions: ? Management will confirm that its third-party accounting firm retained by the EDC has appropriate training related to single audits and SEFA and that appropriate EDC employees receive appropriate training as soon as possible and annually. Responsible Staff: Third-party accounting firm, Interim President/CEO Anticipated Completion Date: November 2022
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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