Single audits filed with the Federal Audit Clearinghouse
$2.5M in federal awards expended in FY2025
Year
Federal $ expended
Auditor
Opinion
Flags
2025
$2.5M
611374365
Unmodified (clean)
Material weakness
Federal Programs
Top programs · FY2025
Program
Agency
Expended
Major program
Findings
Appalachian AREA Development
via Kentucky Department for Local Government and the Cumberland Valley Area Development District
ARC
$2.5M
Yes
1
Audit Findings
FY2025 · auditor's own text
2025-001ReportingMaterial weakness
Finding 2025-001 – Lack of Internal Control Over Financial Reporting – Federal Revenue Not Recognized Criteria – Standard accounting practices dictate that revenues be recognized in period of performance of the underlying contract or service. Condition – Grant Draw Requ…
Source: Federal Audit Clearinghouse single audits (required of organizations expending $1,000,000+ in federal awards per year for fiscal years beginning on or after Oct 1, 2024; $750,000 before).