EIN: 586001719
UEI: M8LCL7GKMHV6
Audit also covers EIN: 453072990 · unlinked EINs have no separate FAC filing
Audited by: Draffin & Tucker, LLP
Cognizant agency: 10 [Department of Agriculture]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 21, 2026. 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 October 21, 2026 (42 days from today).
What is a management decision? →FAC accepted this audit on June 30, 2025 — management decision was due December 30, 2025.
FAC accepted this audit on June 27, 2024 — management decision was due December 27, 2024.
FAC accepted this audit on June 29, 2023 — management decision was due December 29, 2023.
Southwell Obligated Group did not timely submit its annual budget, projected cash flow, quarterly financial statements, and audited financial statements to the USDA. Criteria: Southwell Obligated Group is responsible for reporting to the USDA throughout the life of the loan, as specifically required within Southwell Obligated Group's applicable agreement, via the RD 442-2, Statement of Budget, Income, and Equity report or other acceptable report. Cause: These reports are required to be submitted, as specified in the applicable loan agreement; however, management did not maintain a list of required reports to be submitted nor was there a process in place to ensure timely filing. Context: The reports were never specifically requested throughout the year by Southwell Obligated Group's USDA representative, nor was Southwell Obligated Group notified of its tardy submission at any point during the fiscal year. The audited financial statements are available to the federal agency through Southwell Obligated Group's website. Effect: Southwell Obligated Group did not follow the guidelines as laid out in the respective loan agreement for its reporting requirements. Questioned Costs: Not applicable. Recommendations: Southwell Obligated Group should continue to improve its understanding of the reporting requirements as specified in the applicable loan document and create a process to ensure reports are submitted in a timely manner.
Show full finding ▾Hide full finding ▴Condition: Southwell Obligated Group did not timely submit its annual budget, projected cash flow, quarterly financial statements, and audited financial statements to the USDA. Criteria: Southwell Obligated Group is responsible for reporting to the USDA throughout the life of the loan, as specifically required within Southwell Obligated Group's applicable agreement, via the RD 442-2, Statement of Budget, Income, and Equity report or other acceptable report. Cause: These reports are required to be submitted, as specified in the applicable loan agreement; however, management did not maintain a list of required reports to be submitted nor was there a process in place to ensure timely filing. Context: The reports were never specifically requested throughout the year by Southwell Obligated Group's USDA representative, nor was Southwell Obligated Group notified of its tardy submission at any point during the fiscal year. The audited financial statements are available to the federal agency through Southwell Obligated Group's website. Effect: Southwell Obligated Group did not follow the guidelines as laid out in the respective loan agreement for its reporting requirements. Questioned Costs: Not applicable. Recommendations: Southwell Obligated Group should continue to improve its understanding of the reporting requirements as specified in the applicable loan document and create a process to ensure reports are submitted in a timely manner.
Recommendation: Southwell Obligated Group should continue to improve its understanding of the reporting requirements as specified in the USDA loan documents and create a process to ensure reports are submitted in a timely manner. Planned Corrective Action: Southwell Obligated Group will establish a calendar schedule of key dates and required reports by July 31, 2023. This Calendar will be managed by the Controller and reviewed by the Senior Vice President ? Chief Financial Officer. Reports not previously submitted timely have now been submitted.
FAC accepted this audit on June 29, 2022 — management decision was due December 29, 2022.
FAC accepted this audit on December 22, 2021 — management decision was due June 22, 2022.
FAC accepted this audit on March 4, 2020 — management decision was due September 4, 2020.
FAC accepted this audit on January 15, 2019 — management decision was due July 15, 2019.
FAC accepted this audit on February 7, 2018 — management decision was due August 7, 2018.
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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