EIN: 751489595
UEI: SJ1GUKZSQ8S1
Audited by: Johnson & Sheldon, PLLC
Oversight agency: 11 [Department of Commerce]
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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 May 6, 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 November 6, 2026 (69 days from today).
What is a management decision? →2025-001 - Internal Controls surrounding Reporting compliance requirement Criteria: The Uniform Guidance requires that management of Moore County Development, Inc. (the Organization) implement a system of internal controls over compliance for the direct and material program compliance requirements. Condition and Context: During our audit, we noted that management of the Organization had not implemented a system of internal controls applicable to the Organization’s compliance with the Reporting requirement. Cause: Management of the Organization has not implemented internal controls surrounding the Organization’s compliance with reporting requirements. Effect of Potential Effect: Without implementation of a properly operating system of internal controls over compliance, the Organization could become noncompliant with grant requirements. Recommendation: We recommend management of the Organization implement a system of internal controls over compliance, to specifically include the Board of Director’s review and documentation of review of compliance reports submitted by management. Responsible Official’s Response: In progress. Management of the Organization will present compliance reports to the Board of Directors for review and approval prior to submission.
Show full finding ▾Hide full finding ▴2025-001 - Internal Controls surrounding Reporting compliance requirement Criteria: The Uniform Guidance requires that management of Moore County Development, Inc. (the Organization) implement a system of internal controls over compliance for the direct and material program compliance requirements. Condition and Context: During our audit, we noted that management of the Organization had not implemented a system of internal controls applicable to the Organization’s compliance with the Reporting requirement. Cause: Management of the Organization has not implemented internal controls surrounding the Organization’s compliance with reporting requirements. Effect of Potential Effect: Without implementation of a properly operating system of internal controls over compliance, the Organization could become noncompliant with grant requirements. Recommendation: We recommend management of the Organization implement a system of internal controls over compliance, to specifically include the Board of Director’s review and documentation of review of compliance reports submitted by management. Responsible Official’s Response: In progress. Management of the Organization will present compliance reports to the Board of Directors for review and approval prior to submission.
Identifying Number: 2025-001 - Internal Controls surrounding Reporting compliance requirement Audit Finding: Management of the Organization has not implemented internal controls surrounding the Organization’s compliance with reporting requirements. Corrective Action Planned: In progress. Management of the Organization will present compliance reports to the Board of Directors for review and approval prior to submission. The name of the contact person responsible for the corrective action: Lisa Underwood, Executive Director The anticipated completion date: To be completed by July 31, 2026.
2025-002 - Internal Controls surrounding Special Tests and Provisions compliance requirement Criteria: The Uniform Guidance requires that management of Moore County Development, Inc. (the Organization) implement a system of internal controls over compliance for the direct and material program compliance requirements. Condition and Context: During our audit, we noted that management of the Organization had not implemented a system of internal controls applicable to the Organization’s compliance with the Special Tests and Provisions requirement. Cause: Management of the Organization has not implemented internal controls surrounding the Organization’s compliance with special tests and provisions requirements. Effect of Potential Effect: Without implementation of a properly operating system of internal controls over compliance, the Organization could become noncompliant with grant requirements. Recommendation: We recommend management of the Organization implement a system of internal controls over compliance, to specifically include the Board of Director’s review and documentation of review of GAAP accounting requirements for allowance for expected credit loss provisions. Responsible Official’s Response: Management of the Organization has elected not to adopt GAAP accounting requirements for allowance for expected credit loss provisions.
Show full finding ▾Hide full finding ▴2025-002 - Internal Controls surrounding Special Tests and Provisions compliance requirement Criteria: The Uniform Guidance requires that management of Moore County Development, Inc. (the Organization) implement a system of internal controls over compliance for the direct and material program compliance requirements. Condition and Context: During our audit, we noted that management of the Organization had not implemented a system of internal controls applicable to the Organization’s compliance with the Special Tests and Provisions requirement. Cause: Management of the Organization has not implemented internal controls surrounding the Organization’s compliance with special tests and provisions requirements. Effect of Potential Effect: Without implementation of a properly operating system of internal controls over compliance, the Organization could become noncompliant with grant requirements. Recommendation: We recommend management of the Organization implement a system of internal controls over compliance, to specifically include the Board of Director’s review and documentation of review of GAAP accounting requirements for allowance for expected credit loss provisions. Responsible Official’s Response: Management of the Organization has elected not to adopt GAAP accounting requirements for allowance for expected credit loss provisions.
Identifying Number: 2025-002 - Internal Controls surrounding Special Tests and Provisions compliance requirement Audit Finding: Management of the Organization has not implemented internal controls surrounding the Organization’s compliance with special tests and provisions requirements. Corrective Action Planned: Management of the Organization has elected not to adopt GAAP accounting requirements for credit loss provisions. The name of the contact person responsible for the corrective action: Lisa Underwood, Executive Director The anticipated completion date: N/A.
2025-003 - Noncompliance with Special Tests and Provisions compliance requirement Criteria: The Uniform Guidance requires that management of Moore County Development, Inc. (the Organization) to follow compliance requirements for GAAP accounting, including specific requirements for accounting for credit loss provisions. Condition and Context: During our audit, we noted that management of the Organization had not adopted GAAP accounting requirements for credit loss provisions. Cause: Management of the Organization has not adopted GAAP accounting requirements for credit loss provisions. Effect of Potential Effect: The Organization is not following GAAP accounting requirements for credit loss provisions. Recommendation: We recommend management of the Organization evaluate the GAAP requirements for accounting for credit loss provisions. Responsible Official’s Response: Management of the Organization has elected not to adopt GAAP accounting requirements for allowance for credit loss provisions.
Show full finding ▾Hide full finding ▴2025-003 - Noncompliance with Special Tests and Provisions compliance requirement Criteria: The Uniform Guidance requires that management of Moore County Development, Inc. (the Organization) to follow compliance requirements for GAAP accounting, including specific requirements for accounting for credit loss provisions. Condition and Context: During our audit, we noted that management of the Organization had not adopted GAAP accounting requirements for credit loss provisions. Cause: Management of the Organization has not adopted GAAP accounting requirements for credit loss provisions. Effect of Potential Effect: The Organization is not following GAAP accounting requirements for credit loss provisions. Recommendation: We recommend management of the Organization evaluate the GAAP requirements for accounting for credit loss provisions. Responsible Official’s Response: Management of the Organization has elected not to adopt GAAP accounting requirements for allowance for credit loss provisions.
Identifying Number: 2025-003 - Noncompliance with Special Tests and Provisions compliance requirements Audit Finding: The Organization is not following GAAP accounting requirements for credit loss provisions. Corrective Action Planned: Management of the Organization has elected not to adopt GAAP accounting requirements for allowance for credit loss provisions. The name of the contact person responsible for the corrective action: Lisa Underwood, Executive Director The anticipated completion date: N/A.
FAC accepted this audit on April 28, 2020 — management decision was due October 28, 2020.
FAC accepted this audit on April 29, 2019 — management decision was due October 29, 2019.
FAC accepted this audit on April 23, 2018 — management decision was due October 23, 2018.
FAC accepted this audit on May 24, 2017 — management decision was due November 24, 2017.
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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