Single audits filed with the Federal Audit Clearinghouse
$930K in federal awards expended in FY2023
Year
Federal $ expended
Auditor
Opinion
Flags
2023
$930K
Johnson O'Connor Feron & Carucci LLP
Unmodified (clean)
Material weakness
Federal Programs
Top programs · FY2023
Program
Agency
Expended
Major program
Findings
Congressional Grants
SBA
$594K
Yes
3
Coronavirus State and Local Fiscal Recovery Funds
via U.S. Department of Commerce Economic Development Administration Economic Adjustment Assistance Program - COVID-19
Treasury
$230K
No
0
Coronavirus State and Local Fiscal Recovery Funds
via Passed through the City of Holyoke Office for Community Development SPARK EforAll/Epara Todos Holyoke Program - COVID-19
Treasury
$80K
No
0
Community Development Block Grant
via City of Pittsfield Community Development Program
HUD
$26K
No
0
Audit Findings
FY2023 · auditor's own text
2023-003OtherSignificant deficiency
Item # 2023-003 Reconciliation of Bank Accounts (Significant Deficiency in Internal Control)
Criteria: Under GAAP, bank accounts are required to be reconciled on a regular basis to ensure that they are properly stated under the accrual basis of accounting.
Condition: During th…
2023-001OtherMaterial weakness
Item # 2023-001 Conditional Grant Revenue Recognition (Material Weakness in Internal Control)
Criteria: Under Generally Accepted Accounting Principles (GAAP), advances received for conditional grants for expenses not yet incurred are considered a refundable advance liability and…
2023-002OtherMaterial weakness
Item # 2023-002 Net Assets with Donor Restrictions (Material Weakness in Internal Control)
Criteria: Under GAAP, net assets with donor restrictions should be released from restrictions when the award terms of the related grants or contributions are met.
Condition: Management d…
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).