EIN: 751238008
UEI: GSA_MIGRATION
Audited by: YWRD, P.C.
Oversight agency: 10 [Department of Agriculture]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 9, 2020. 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 December 9, 2020 (2090 days ago).
What is a management decision? →YWRD, P.C. was requested to prepare the audited financial statements. Criteria: It is management's responsibility to provide for the preparation of the financial statements, footnotes, and schedules, and the responsibility of the auditor to determine the fairness of presentation of those statements and schedules. Cause: It is not typical for a small nonprofit entity with limited staff to employ staff with the skill or knowledge necessary to prepare financial statements, the Schedule of Expenditures for Federal Awards, and the disclosures required by generally accepted accounting principles. Effect: The possibility exists that a material misstatement to the financial statements could exist that could have been prevented or detected by management. Recommendation: A disclosure checklist should be utilized to ensure all required disclosures are present, and accounting information should be agreed to the amounts reported in the financial statements and disclosures. View of Responsible Officials and Planned Corrective Actions: Sardis-Lone Elm Water Supply Corporation will implement suggestions above and obtain consultation and guidance as needed from professionals in this area.
Show full finding ▾Hide full finding ▴Condition: YWRD, P.C. was requested to prepare the audited financial statements. Criteria: It is management's responsibility to provide for the preparation of the financial statements, footnotes, and schedules, and the responsibility of the auditor to determine the fairness of presentation of those statements and schedules. Cause: It is not typical for a small nonprofit entity with limited staff to employ staff with the skill or knowledge necessary to prepare financial statements, the Schedule of Expenditures for Federal Awards, and the disclosures required by generally accepted accounting principles. Effect: The possibility exists that a material misstatement to the financial statements could exist that could have been prevented or detected by management. Recommendation: A disclosure checklist should be utilized to ensure all required disclosures are present, and accounting information should be agreed to the amounts reported in the financial statements and disclosures. View of Responsible Officials and Planned Corrective Actions: Sardis-Lone Elm Water Supply Corporation will implement suggestions above and obtain consultation and guidance as needed from professionals in this area.
CORRECTIVE ACTION PLAN May 8, 2020 Department of Agriculture Sardis Lone Elm Water Supply Corporation, respectfully submits the following corrective action plan for the fiscal year ended December 31, 2019. Name and address of independent public accounting firm: YWRD, P.C. P.O. Box 1087 Ennis, TX 75120 Audit period: Fiscal year ended December 31, 2019 The finding from the December 31, 2019 schedule of findings and questioned costs is below. The finding is numbered consistent with the number assigned in the schedule. FINDINGS ? FINANCIAL STATEMENTS AUDIT MATERIAL WEAKNESS 2019-1 Preparation of Financial Statements Condition: YWRD, P.C. was requested to prepare the audited financial statements. Criteria: It is management?s responsibility to provide for the preparation of the financial statements, footnotes, and schedules, and the responsibility of the auditor to determine the fairness of presentation of those statements and schedules. Cause: It is not typical for a small nonprofit entity with limited staff to employ staff with the skill or knowledge necessary to prepare financial statements, the Schedule of Expenditures of Federal Awards, and the disclosures required by generally accepted accounting principles. Effect: The possibility exists that a material misstatement to the financial statements could exist that could have been prevented or detected by management. Recommendation: A disclosure checklist should be utilized to ensure all required disclosures are present, and accounting information should be agreed to the amounts reported in the financial statements and disclosures. Action Taken: Sardis Lone Elm Water Supply Corporation will implement suggestions above and obtain consultation and guidance as needed from professionals in this area. If the Department of Agriculture has questions regarding this plan, please call Paul Tischler at 972-775-8566. Sincerely, Paul Tischler General Manager
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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