EIN: 590709646
UEI: TTQMQADEGC24
Data as of August 27, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on October 6, 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 April 6, 2023 (1239 days ago).
What is a management decision? →We Florida Financial does not have a written grant manual or other written accounting procedures that meet the financial management system and procurement requirements established in the regulations. Cause: We Florida Financial has processes and procedures in place to administer grant funds but no written policies and procedures. Effect: We Florida Financial is not in compliance with financial management system requirements. Recommendation: We Florida Financial should develop a grants manual or additional written policies to incorporate all the requirements of 2 CFR 200 and ensure compliance. Views of Responsible Officials: See Corrective Action Plan included at the end of the report.
Show full finding ▾Hide full finding ▴Finding 2021-001- Internal Controls over Grant Management (Significant Deficiency and Noncompliance) Information on the federal program: U.S. Department of Treasury Assistance Listing 21.024 COVID-19 Community Development Financial Institutions Rapid Response Program Criteria: 2 CFR 200.302 establishes the requirements of a financial management system adequate to ensure compliance with federal regulations. This system must include written procedures to implement requirements for payment methods and determine the allowability of costs in accordance with subpart E. 2 CFR 200.318 requires documented procurement procedures that conform to the methods allowed per the standards. Condition: We Florida Financial does not have a written grant manual or other written accounting procedures that meet the financial management system and procurement requirements established in the regulations. Cause: We Florida Financial has processes and procedures in place to administer grant funds but no written policies and procedures. Effect: We Florida Financial is not in compliance with financial management system requirements. Recommendation: We Florida Financial should develop a grants manual or additional written policies to incorporate all the requirements of 2 CFR 200 and ensure compliance. Views of Responsible Officials: See Corrective Action Plan included at the end of the report.
Management?s Response: Management agrees with the finding and will implement a corrective action plan that will dully document the administrative processes and procedures to fully monitor the grant award in accordance with 2 CFR 200.302 financial management systems and 200.318 general procurement monitoring standards. The corrective action plan will be reviewed and approved at the next board meeting scheduled for October 27, 2022. Contact: Robert Ramirez, CEO rramirez@wefloridafinancial.com
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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