Mood:  cheeky

I finished the Schedule of Expenditures for Federal Awards (SEFA) in its preliminary form today.

The auditors who start their field work on August 17th have been asking for this document since June. That just doesn't make sense to me because we hadn't finished closing the books and they were asking for the information! DUH!

Anyway, when they asked for it last week, I told my boss that I hadn't created last year's SEFA until July 21 and didn't get it to them until a few days after that. What was the huge almighty rush?

I started working on it AFTER I finished the State Budget Forms for my Federal and State/Local grant funds (Code 07 and Code 35), respecitively AND after finishing the Federal Funds table for the State 18E report that was due to Barb on July 15th.

Well, today I finished the preliminary version that is used to determine what programs will be chosen for full blown Type A audits. We are a low risk auditee so we only have to have 25% of our Federal transactions audited. Well - we spent over $57 million in Federal funds. That means we have to have $14,250,000 in transactions audited. Meaning Title I and Nutrition Services will be audited this year since they had the most transactions under their individual Catalog of Federal Domestic Assistance(CFDA) numbers. Title I had a finding two years ago, so they were scheduled to be audited to make sure they have improved their Salary Certifications and split funded timecards since the finding in 2007 when they were last audited.

Gloria, the Federal specialist auditor that does the A-133 Single Audit for us, told me that all ARRA funds are going to be audited at a 50% sampling and treated as high risk - meaning - they all could be audited as full blown Type A programs. Totally unfair. The majority of ARRA funds are for programs that we already have - this ARRA is just grant more funds for the same programs. I can understand them auditing the Interest Free Construction Bonds that are ARRA or the National School Lunch Program equipment grant or the State Stablization Funds - but everything else? I just think the auditing firm wants to audit more so they can make more money.

I am projecting that on the low end we spend $85 million in Federal dollars and on the high end $92 million.

My job just about doubled with this ARRA - I am SO very happy that Mary will continue to help me with all the filing, journal entries, and general paper shuffling and research I do.