EIN: 833227509
UEI: SJ5RVB7KRWT7
Audited by: CBIZ CPAs P.C.
Oversight agency: 10 [Department of Agriculture]
View federal awards & risk assessment →
Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 23, 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 January 23, 2027 (137 days from today).
What is a management decision? →Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement – 2 CFR § 200.512, Report Submission, requires completion of an audit and submission of the data collection form and reporting package within the earlier of thirty calendar days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition - The audit and data collection form are being submitted after the required due date. Cause - The Corporation had not maintained appropriate levels of staff to ensure compliance with regulatory filing requirements with the prior year audit which delayed the start and completion of this year’s audit on a timely basis. Effect - Noncompliance with the requirements of 2 CFR § 200.512. There is a potential for suspension or cessation of federal funding under the federal award. Repeat Finding - This is a repeat finding from the prior year. See prior year finding 2023-002. Recommendation - The Corporation should take steps to ensure that its financial records are maintained on a current basis, reconciled timely, and audited within nine months after year-end. View of Responsible Officials and Planned Corrective Actions – See corrective action plan.
Show full finding ▾Hide full finding ▴Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement – 2 CFR § 200.512, Report Submission, requires completion of an audit and submission of the data collection form and reporting package within the earlier of thirty calendar days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition - The audit and data collection form are being submitted after the required due date. Cause - The Corporation had not maintained appropriate levels of staff to ensure compliance with regulatory filing requirements with the prior year audit which delayed the start and completion of this year’s audit on a timely basis. Effect - Noncompliance with the requirements of 2 CFR § 200.512. There is a potential for suspension or cessation of federal funding under the federal award. Repeat Finding - This is a repeat finding from the prior year. See prior year finding 2023-002. Recommendation - The Corporation should take steps to ensure that its financial records are maintained on a current basis, reconciled timely, and audited within nine months after year-end. View of Responsible Officials and Planned Corrective Actions – See corrective action plan.
Yes, we agree with the findings and the Corporation has taken steps to ensure the financial records are maintained on a current basis and reconciled timely. We now have an accounting manager that is overseeing the financial records and ensuring accuracy and timeliness. Additionally, we have adopted new software that allows for accuracy and timeliness of month end close. This will allow for year-end audits to be performed within 180 days and subsequent submission within 9 months to the Federally Audit Clearing House.
2023-002
Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement – The Compliance Supplement (Part 4 – Agency Program Requirements) for the Community Facilities Direct Loan program requires borrowers to fund reserves, maintain insurance, deposit funds in Federally insured banks, meet financial covenants, and maintain sufficient debt service ratios as part of continuing compliance requirements that Community Facilities borrowers must meet. Condition – During our testing of Special Tests and Provisions, we noted that two of seven monthly deposits to the debt service reserve account did not comply with required timing. Cause - The Corporation has not implemented appropriate controls over timely deposit requirements for the debt service reserve account. Effect - Noncompliance with program-specific requirements related to Special Tests and Provisions. There is a potential for suspension or cessation of federal funding under the federal award. Repeat Finding - This is not a repeat finding. Recommendation - The Corporation should establish appropriate controls over its required funding of the debt service reserve account to ensure compliance with the Special Tests and Provisions requirements. View of Responsible Officials and Planned Corrective Actions – See corrective action plan.
Show full finding ▾Hide full finding ▴Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement – The Compliance Supplement (Part 4 – Agency Program Requirements) for the Community Facilities Direct Loan program requires borrowers to fund reserves, maintain insurance, deposit funds in Federally insured banks, meet financial covenants, and maintain sufficient debt service ratios as part of continuing compliance requirements that Community Facilities borrowers must meet. Condition – During our testing of Special Tests and Provisions, we noted that two of seven monthly deposits to the debt service reserve account did not comply with required timing. Cause - The Corporation has not implemented appropriate controls over timely deposit requirements for the debt service reserve account. Effect - Noncompliance with program-specific requirements related to Special Tests and Provisions. There is a potential for suspension or cessation of federal funding under the federal award. Repeat Finding - This is not a repeat finding. Recommendation - The Corporation should establish appropriate controls over its required funding of the debt service reserve account to ensure compliance with the Special Tests and Provisions requirements. View of Responsible Officials and Planned Corrective Actions – See corrective action plan.
The Corporation recognizes there were two late payments. The Corporation has implemented better controls. During this time, there were staff transitions. We have a Designated Treasury position that ensures all payments are made timely.
FAC accepted this audit on September 6, 2024 — management decision was due March 6, 2025.
Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement - 45 CFR § 75.512, Report Submission, requires completion of an audit and submission of the data collection form and reporting package within the earlier of thirty calendar days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition - The audit and data collection form are being submitted after the required due date. Cause - The Corporation did not maintain appropriate levels of staff to ensure compliance with regulatory filing requirements. Effect - Noncompliance with the requirements of 45 CFR § 75.512. There is a potential for suspension or cessation of federal funding under the federal award. Questioned Cost - To be determined by the grantor. Context - We reviewed the audit submission date in comparison to the required due date. Repeat Finding - No Recommendation - The Corporation should take steps to ensure that its financial records are maintained on a current basis, reconciled timely, and audited within nine months after year-end. View of Responsible Officials and Planned Corrective Actions - The organization will ensure that financial records are maintained on a current basis, reconciled timely and audited within nine months after year end. Additional support has been put in place within the accounting department to records are current, reconciled timely and audit is completed within nine months after year end.
Show full finding ▾Hide full finding ▴Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement - 45 CFR § 75.512, Report Submission, requires completion of an audit and submission of the data collection form and reporting package within the earlier of thirty calendar days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition - The audit and data collection form are being submitted after the required due date. Cause - The Corporation did not maintain appropriate levels of staff to ensure compliance with regulatory filing requirements. Effect - Noncompliance with the requirements of 45 CFR § 75.512. There is a potential for suspension or cessation of federal funding under the federal award. Questioned Cost - To be determined by the grantor. Context - We reviewed the audit submission date in comparison to the required due date. Repeat Finding - No Recommendation - The Corporation should take steps to ensure that its financial records are maintained on a current basis, reconciled timely, and audited within nine months after year-end. View of Responsible Officials and Planned Corrective Actions - The organization will ensure that financial records are maintained on a current basis, reconciled timely and audited within nine months after year end. Additional support has been put in place within the accounting department to records are current, reconciled timely and audit is completed within nine months after year end.
The organization will ensure that financial records are maintained on a current basis, reconciled timely and audited within nine months after year end. Additional support has been put in place within the accounting department to records are current, reconciled timely and audit is completed within nine months after year end.
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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