Solano Economic Devco Corporation

Finding 2024-001 Procurement Policy (Uniform Guidance Compliance) Criteria Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) requires nonfederal entities to have a procurement policy in accordance with the Uniform Guidance requirements. Condition The Organization does not have a documented procurement policy as required by the Uniform Guidance. Cause Management was not adequately informed of the Uniform Guidance requirements. Effect The Organization's procurement policies and procedures are not in compliance with the Uniform Guidance. Recommendation We recommend that the Organization review the Uniform Guidance procurement requirements and update the Federal Grant Procedures manual for compliance with the Uniform Guidance.

The Solano EDC, as a sub-contractor to Solano County, received funding from the Coronavirus State and Local Fiscal Recovery Fund program. This audit recommends in Finding 2024-001 Procurement Policy (Uniform Guidance Compliance) that the Solano EDC update our manual for compliance with the Uniform Guidelines. The Solano EDC followed the procurement policies of Solano County in implementing the Revolving Loan Fund program funded with these federal funds. However, the Solano EDC will review the Uniform Guidance procurement requirements and update our procedures for compliance with the Uniform Guidance. This will be completed in the 2024-2025 Fiscal year.