EIN: 742606469
UEI: JLDLWZ3GSR91
Data as of August 23, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on August 4, 2021. 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 February 4, 2022 (1661 days ago).
What is a management decision? →P.V. Community Development Corporation was awarded a Financial Assistance grant from the U.S Small Business Administration (?SBA?) in the amount of $75,000 for the period of September 30, 2019 through December 31, 2020. Audit procedures revealed the award was incorrectly recorded on the books of the related affiliate, Project Vida, who serves as a fiscal agent for P.V. Community Development Corporation. SBA grant receipts and expenses were reported under Project Vida by management rather than P.V. Community Development Corporation. Cause: The condition noted is due to the Organization experiencing accounting personnel shortages during the COVID-19 pandemic. Effect: Grant receipts and expenses are not recorded properly for Project Vida or P.V. Community Development Corporation, resulting in the Schedule of Expenditures of Federal Awards being misstated. In addition, the monthly financial statements prepared by management for internal use do not include accurate information about grant revenues or expenses. An audit adjustment was required to correctly reflect SBA grant receipts and related expenses in the financial statements and SEFA for P.V. Community Development Corporation. Recommendation: Prior to receiving a new grant, management should review grant notice of award documentation in order to properly determine which entity the grant is awarded to, as well as ensure that the grant revenues and expenses are recorded on the books of the proper entity. We also recommend that management develop a process for ensuring all grant receipts are correctly included in the schedule of expenditures of federal awards, and maintain a timely reconciliation of the schedule of expenditures of federal awards to the grant awards reported in financial statements.
Show full finding ▾Hide full finding ▴Finding 2020-002: Internal Controls over Reconciliation of the Schedule of Expenditures of Federal Awards (SEFA). Home Investments Partnerships Program, CFDA 14.239. Compliance Area: Other. Criteria: In order to ensure that the Schedule of Expenditures of Federal Awards (SEFA) is correctly reported, all grants that P.V. Community Development Corporation receive are required under the Uniform Guidance to be reported on the SEFA. Management should have proper policies and procedures implemented in order to ensure the accuracy of the expenditures listed on the SEFA. Condition: P.V. Community Development Corporation was awarded a Financial Assistance grant from the U.S Small Business Administration (?SBA?) in the amount of $75,000 for the period of September 30, 2019 through December 31, 2020. Audit procedures revealed the award was incorrectly recorded on the books of the related affiliate, Project Vida, who serves as a fiscal agent for P.V. Community Development Corporation. SBA grant receipts and expenses were reported under Project Vida by management rather than P.V. Community Development Corporation. Cause: The condition noted is due to the Organization experiencing accounting personnel shortages during the COVID-19 pandemic. Effect: Grant receipts and expenses are not recorded properly for Project Vida or P.V. Community Development Corporation, resulting in the Schedule of Expenditures of Federal Awards being misstated. In addition, the monthly financial statements prepared by management for internal use do not include accurate information about grant revenues or expenses. An audit adjustment was required to correctly reflect SBA grant receipts and related expenses in the financial statements and SEFA for P.V. Community Development Corporation. Recommendation: Prior to receiving a new grant, management should review grant notice of award documentation in order to properly determine which entity the grant is awarded to, as well as ensure that the grant revenues and expenses are recorded on the books of the proper entity. We also recommend that management develop a process for ensuring all grant receipts are correctly included in the schedule of expenditures of federal awards, and maintain a timely reconciliation of the schedule of expenditures of federal awards to the grant awards reported in financial statements.
2020-002: Internal Controls over Reconciliation of the Schedule of Expenditures of Federal Awards (SEFA). Management's View: Management agrees with the finding and intends to address it immediately. Proposed Corrective Action: Staff involved with Microenterprise Technical Assistance will track the necessary documentation to record the proper activities in PVCDC's books. Anticipated Completion Date: January, 2021. Responsible Official: Paloma Medina, MTAP program supervisor.
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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