HomeMy WebLinkAboutItem 3A PresentationCity of Palm Springs
Single Audit Report
For the Year Ended June 30, 2023
May 9, 2024
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CONTENTS
•Scope of Work –Single Audit
•Audit Results
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SCOPE OF WORK – Single Audit
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SCOPE OF WORK – Single Audit
•The Single Audit Act requires an annual audit of non-Federal entities,
including Tribes, that expend $750,000 or more of Federal Financial
Assistance in a fiscal year.
•The Single Audit must be performed by an independent auditor and the
reporting package (which includes the audit report) must be submitted to
the Federal Audit Clearinghouse within 30 days after your organization
receives the audit report or 9 months from your organization’s fiscal year
end.
•A Single Audit includes an audit of both the City’s financial statements
and compliance with Federal award requirements for those programs
identified as "major programs."
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SCOPE OF WORK – Single Audit
•Total federal expenditures for the year ended June 30, 2023: $20,239,334
•Major programs selected for testing:
•Community Development Block Grant (CDBG) $324,126
•Airport Improvement Program $16,014,198
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SCOPE OF WORK – Single Audit
•Compliance Requirements Applicable to CDBG:
•Activities Allowed or Unallowed/Allowable Cost, Cost Principles
•Equipment and Real Property Management
•Period of Performance
•Program Income
•Reporting
•Special Tests and Provisions
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SCOPE OF WORK – Single Audit
•Compliance Requirements Applicable to Airport Improvement Program:
•Activities Allowed or Unallowed/Allowable Cost, Cost Principles
•Equipment and Real Property Management
•Matching
•Reporting
•Special Tests and Provisions
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AUDIT RESULTS
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Audit Results
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•Financial Statements
•Unmodified opinion
•Internal control over financial reporting:
•Finding 2023-001 – Internal Control and Compliance over Year-End
Closing, Bank Reconciliation, and Investment Reports
•Federal Award
•Unmodified opinion
•Complied with compliance requirements in all material respects
•Internal control over major federal program:
•Finding 2023-002 – Internal Control and Compliance over Reporting
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