EIN: 930586118
UEI: C538DKSGP6U3
Audited by: Clear Trail CPAs LLC
Oversight agency: 11 [Department of Commerce]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 8, 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 8, 2027 (121 days from today).
What is a management decision? →FAC accepted this audit on October 20, 2025 — management decision was due April 20, 2026.
FAC accepted this audit on January 10, 2024 — management decision was due July 10, 2024.
FAC accepted this audit on January 8, 2023 — management decision was due July 8, 2023.
During our testing of Economic Development Cluster Loans, we noted an instance where a loan required Life Insurance policy lapsed, the District did not thoroughly document their follow up in the lapse in coverage. Criteria: Loans are required to be covered by life insurance. Effect: Without life insurance the loan may not be covered. Cause: The District did not document their follow up on the lapsed coverage. Recommendations: We recommend that the District thoroughly documents their process of follow up to lapse coverage. Management?s Response: Management agrees that all follow ups on life insurance policy lapses will include information about the purpose of the call, the phone number called, the date and time of the call, and whether a voicemail was able to be left.
Show full finding ▾Hide full finding ▴SA-2022-01 ? SIGNIFICANT DEFICIENCY Federal Program: 11.307 - Economic Adjustment Assistance Condition: During our testing of Economic Development Cluster Loans, we noted an instance where a loan required Life Insurance policy lapsed, the District did not thoroughly document their follow up in the lapse in coverage. Criteria: Loans are required to be covered by life insurance. Effect: Without life insurance the loan may not be covered. Cause: The District did not document their follow up on the lapsed coverage. Recommendations: We recommend that the District thoroughly documents their process of follow up to lapse coverage. Management?s Response: Management agrees that all follow ups on life insurance policy lapses will include information about the purpose of the call, the phone number called, the date and time of the call, and whether a voicemail was able to be left.
Issue: During the Auditor?s testing of Economic Development Cluster Loans, they noted an instance where a loan-required Life Insurance policy lapsed and the District did not thoroughly document their follow up in the lapse in coverage. Loans are required to be covered by life insurance. Without life insurance the loan may not be covered. Recommendation: The Auditor recommends that the District thoroughly documents their process of follow up to lapse coverage. Action Taken: Management agrees that all follow ups on life insurance policy lapses that are made by telephone will include information about the purpose of the call, the phone number called, the date and time of the call, and whether a voicemail was able to be left.
FAC accepted this audit on August 7, 2022 — management decision was due February 7, 2023.
FAC accepted this audit on December 8, 2020 — management decision was due June 8, 2021.
There was a lapse in life insurance for one of the District's loan recipients. The insurance company sent a letter regarding the lapse in coverage but there was no follow up done by the District to verify a continuance in coverage. Cause: This condition is caused by the staff's limited experience with the federal award and improper review of loan recipient annual required loan servicing information. Effect: Improper review of loan recipient annual required loan servicing information could lead to noncompliance with contracts and grant agreements. Questioned Costs: There are no questioned costs related to this finding. Context: This is not a repeat finding and it was an isolated incidence in our testing of compliance with the Economic Adjustment Assistance program. We believe our sample is representative of the total population of all loan funds made under this program. Recommendation: We recommend that the District implement procedures to follow up on information that comes to the District's attention regarding noncompliance with loan agreements and federal programs. We also recommend the District implement review procedures over loan servicing information on all loans annually. View of Responsible Officials and Planned Corrective Actions: The District agrees with the finding and the recommended procedures will be implemented.
Show full finding ▾Hide full finding ▴2020-008 U.S. Department of Commerce Economic Adjustment Assistance CFDA# 11.307 Noncompliance with Federal Award: The District did not follow up on the life insurance assignment requirement for one of the Economic Adjustment Assistance loans. The District received a letter from the insurance company in May 2019 indicating that the policy had not been paid and would be lapsing. No follow up was done and no verification of continued coverage was implemented. Criteria: Government Auditing Standards issued by the Comptroller of the United States require us to assess compliance with certain provisions of laws, regulations, contracts, and grant agreements. The compliance supplement for Economic Adjustment Assistance CFDA# 11.307 requires that loan documentation contain certain items as lined out in the loan agreement with the recipient. The loan servicing information required by the agreement with one recipient was proof of life insurance. Condition: There was a lapse in life insurance for one of the District's loan recipients. The insurance company sent a letter regarding the lapse in coverage but there was no follow up done by the District to verify a continuance in coverage. Cause: This condition is caused by the staff's limited experience with the federal award and improper review of loan recipient annual required loan servicing information. Effect: Improper review of loan recipient annual required loan servicing information could lead to noncompliance with contracts and grant agreements. Questioned Costs: There are no questioned costs related to this finding. Context: This is not a repeat finding and it was an isolated incidence in our testing of compliance with the Economic Adjustment Assistance program. We believe our sample is representative of the total population of all loan funds made under this program. Recommendation: We recommend that the District implement procedures to follow up on information that comes to the District's attention regarding noncompliance with loan agreements and federal programs. We also recommend the District implement review procedures over loan servicing information on all loans annually. View of Responsible Officials and Planned Corrective Actions: The District agrees with the finding and the recommended procedures will be implemented.
Noncompliance with Federal Award Requirement: See Finding 2020-008 District did not comply with life insurance assignment requirement. The District did not follow up on the life insurance assignment requirement for one of the Economic Adjustment Assistance loans. The District received a letter from the insurance company in May 2019 indicating that the policy had not been paid and would be lapsing. No follow up was completed and no verification of continued coverage was implemented. Recommendation: We recommend that the District implement procedures to follow up on information that comes to the District?s attention regarding noncompliance with loan agreements and federal program requirements. Action Taken: The District implement recommended procedures over the loan programs. The procedures have been implemented effective immediately.
FAC accepted this audit on November 19, 2019 — management decision was due May 19, 2020.
FAC accepted this audit on December 11, 2018 — management decision was due June 11, 2019.
FAC accepted this audit on December 13, 2017 — management decision was due June 13, 2018.
FAC accepted this audit on December 4, 2016 — management decision was due June 4, 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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