EIN: 562400648
UEI: GSA_MIGRATION
Data as of August 22, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on November 19, 2019. 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 May 19, 2020 (2286 days ago).
What is a management decision? →2019-001 ? Segregation of Duties Condition ? A fundamental concept in a system of internal controls is the segregation of duties. Duties should be separated so that no one person performs incompatible duties or has complete control over any type of transaction. Criteria ? Internal controls should be in place to provide reasonable assurance that proper segregation of duties is achieved. Effect ? Without adequate segregation of duties, the Cooperative?s financial statements are subject to misstatement. Cause ? The Cooperative has a limited number of office personnel and inadequate internal controls. 2. Findings ? Financial Statement Audit (Continued) Significant Deficiency (Continued) 2019-001 ? Segregation of Duties (Continued) Recommendation ? This is not unusual in a cooperative of this size, and generally it is not economically feasible to provide for complete adherence to the segregation of duties concept. While it is recognized that due to the relatively small size of the Cooperative?s staff, the Cooperative is not able to attain segregation of duties to the extent required for ideal internal control, it is important that the Cooperative be aware of this situation. Views of Responsible Officials and Planned Corrective Actions ? The Cooperative?s management is aware of this condition and believes that it is not economically feasible to attain the ideal segregation of duties. Management attempts to mitigate the associated risks by doing the following: (a) Identifies areas where the lack of segregation of duties exists and where there are higher risks of errors or fraud occurring. (b) Implements limited segregation to the extent possible to reduce risks without impairing efficiency. (c) Uses the knowledge that management and the Board of Directors have of operations by having them review certain accounting records and reports. (d) Monitors the effectiveness of the above actions and makes changes as considered appropriate.
Show full finding ▾Hide full finding ▴2019-001 ? Segregation of Duties Condition ? A fundamental concept in a system of internal controls is the segregation of duties. Duties should be separated so that no one person performs incompatible duties or has complete control over any type of transaction. Criteria ? Internal controls should be in place to provide reasonable assurance that proper segregation of duties is achieved. Effect ? Without adequate segregation of duties, the Cooperative?s financial statements are subject to misstatement. Cause ? The Cooperative has a limited number of office personnel and inadequate internal controls. 2. Findings ? Financial Statement Audit (Continued) Significant Deficiency (Continued) 2019-001 ? Segregation of Duties (Continued) Recommendation ? This is not unusual in a cooperative of this size, and generally it is not economically feasible to provide for complete adherence to the segregation of duties concept. While it is recognized that due to the relatively small size of the Cooperative?s staff, the Cooperative is not able to attain segregation of duties to the extent required for ideal internal control, it is important that the Cooperative be aware of this situation. Views of Responsible Officials and Planned Corrective Actions ? The Cooperative?s management is aware of this condition and believes that it is not economically feasible to attain the ideal segregation of duties. Management attempts to mitigate the associated risks by doing the following: (a) Identifies areas where the lack of segregation of duties exists and where there are higher risks of errors or fraud occurring. (b) Implements limited segregation to the extent possible to reduce risks without impairing efficiency. (c) Uses the knowledge that management and the Board of Directors have of operations by having them review certain accounting records and reports. (d) Monitors the effectiveness of the above actions and makes changes as considered appropriate.
CORRECTIVE ACTION PLAN October 10, 2019 To the United States Department of Housing and Urban Development: Village Cooperative of Fergus Falls, Minnesota respectfully submits the following corrective action plan for the fiscal year ended June 30, 2019. Name and address of independent public accounting firm: CarlsonSV 2450 College Way Fergus Falls, Minnesota 56537 Audit period: July 1, 2018 to June 30, 2019: The findings from the June 30, 2019 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. Part 1 of the schedule, Summary of Audit Results, does not include findings and is not addressed. 1. Findings ? Financial Statement Audit Significant Deficiency 2019-001 ? Segregation of Duties Recommendation ? This is not unusual in a cooperative of this size, and generally it is not economically feasible to provide for complete adherence to the segregation of duties concept. While it is recognized that due to the relatively small size of the Cooperative?s staff, the Cooperative is not able to attain segregation of duties to the extent required for ideal internal control, it is important that the Cooperative be aware of this situation. Views of Responsible Officials and Planned Corrective Actions ? The Cooperative?s management is aware of this condition and believes that it is not economically feasible to attain the ideal segregation of duties. Management attempts to mitigate the associated risks by doing the following: (a) Identifies areas where the lack of segregation of duties exists and where there are higher risks of errors or fraud occurring. (b) Implements limited segregation to the extent possible to reduce risks without impairing efficiency. (c) Uses the knowledge that management and the Board of Directors have of operations by having them review certain accounting records and reports. (d) Monitors the effectiveness of the above actions and makes changes as considered appropriate. 1. Findings ? Financial Statement Audit (Continued) Significant Deficiency (Continued) 2019-002 ? Material Audit Adjustments Recommendation: We recommend the Cooperative review and update its year-end processes to ensure all accounts are current at year-end. Views of Responsible Officials and Planned Corrective Actions: The Cooperative?s management is aware of the adjustments necessary to the financial statements. The Cooperative will incorporate recording required journal entries for depreciation expense and related accumulated depreciation at year-end and verifying that they agree to supporting documentation. 2. Findings and Questioned Costs ? Major Federal Award Programs Audit Department of Housing and Urban Development Significant deficiency ? 2019-001 relates to the Major Federal Award Programs. No questioned costs for Major Federal Award Programs were noted. If the United States Department of Housing and Urban Development has questions regarding this plan, please call 218-736-7880. Respectfully submitted, Rodney Venberg President
2018-001
FAC accepted this audit on December 5, 2018 — management decision was due June 5, 2019.
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2017-001
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Show full finding ▾Hide full finding ▴FAC accepted this audit on October 30, 2017 — management decision was due April 30, 2018.
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2016-001
FAC accepted this audit on November 15, 2016 — management decision was due May 15, 2017.
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2015-001
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2015-002
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