EIN: 436002868
UEI: TZDBNK5B9MF1
Data as of August 24, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 16, 2023. 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 July 16, 2023 (1135 days ago).
What is a management decision? →The City has not adopted written policies and procedures related to federal awards as required by the Uniform Guidance. Context: The lack of written controls pertains to all federal awards. Cause: This condition appears to be the result of a time lag in identifying the requirement and developing a plan for compliance. Effect: As a result of this condition, the City may not fully comply with the Uniform Guidance applicable to certain federal awards. Questioned Costs: No costs have been questioned as a result of this finding. Recommendation: We recommend the City adopt the required written policies and procedures required by the Uniform Guidance. Views of Responsible Officials and Planned Corrective Actions: The City understands the concern. The City will review and update the City of Potosi?s procurement policy to add the federal guidelines to comply with Uniform Guidance.
Show full finding ▾Hide full finding ▴2022-3 Criteria: The Office of Management and Budget?s (OMB) Uniform Guidance requires a non-federal entity to have certain written policies and procedures in place surrounding the management of their federal awards. Condition: The City has not adopted written policies and procedures related to federal awards as required by the Uniform Guidance. Context: The lack of written controls pertains to all federal awards. Cause: This condition appears to be the result of a time lag in identifying the requirement and developing a plan for compliance. Effect: As a result of this condition, the City may not fully comply with the Uniform Guidance applicable to certain federal awards. Questioned Costs: No costs have been questioned as a result of this finding. Recommendation: We recommend the City adopt the required written policies and procedures required by the Uniform Guidance. Views of Responsible Officials and Planned Corrective Actions: The City understands the concern. The City will review and update the City of Potosi?s procurement policy to add the federal guidelines to comply with Uniform Guidance.
FEDERAL AWARD FINDINGS AND QUESTIONED COSTS FEDERAL SIGNIFICANT DEFICIENCY 2022-3 The City has not adopted written policies and procedures related to federal awards as required by Uniform Guidance. Recommendation: We recommend the City adopt the required written policies and procedures required by Uniform Guidance. City?s Response: The City understands the concern. The City will review and update the City of Potosi?s procurement policy to add the federal guidelines to comply with Uniform Guidance. Planned Completion Date for the Corrective Action Plan: The City plans to have its accounting procedures and controls documented by May 1, 2023.
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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