Meridian Institute: single-audit findings

Meridian Institute

Dillon, CO

The FY2023 single audit reports 1 finding.

No FY2024 single audit on file as of October 30, 2026. For the fiscal year ending September 30, 2024, it was due June 30, 2025, 487 days earlier. It is expected because the FY2023 audit reported $1,464,416 in federal spending; an organization whose federal spending fell below the threshold would not need one.

Score: 0 of 100 (FY2023 audit)

The sum of eight parts, each read from the audit. How the score works.

Part	Rule	Max
Material weaknesses	8 points each	24
Significant deficiencies	3 points each	9
Repeat findings	5 points each	15
Longest repeat chain	2 years 3, 3 years 6, 4 years 9, 5+ years 12	12
Modified major-program opinions	qualified 8 each; any adverse or disclaimer 15	15
Questioned costs	known amount of $25,000 or more, by share and dollars	15
Going concern	auditor included a going-concern paragraph	5
Prior-year lateness	prior-year audit late or not filed, scored only with a finding	5
Score		100

Federal funding, FY2023

$1,464,416 in federal awards spent, across 4 programs. Largest funding agencies:

Agency	Spent
Department of Agriculture	$1,464,416

FY2023 audit

FAC record: 2023-09-GSAFAC-0000045671
Fiscal year end: September 30, 2023
Accepted by FAC: November 7, 2024; submitted 130 days after its due date (June 30, 2024)
Federal spending: $1,464,416 · 4 programs
Major programs: 1
Score: 0 of 100

Finding 2023-001

other findings

Program: AGRICULTURE AND FOOD RESEARCH INITIATIVE (AFRI) (10.310); ENVIRONMENTAL QUALITY INCENTIVES PROGRAM (10.912); PARTNERSHIPS FOR CLIMATE-SMART COMMODITIES (10.937); SOIL AND WATER CONSERVATION (10.902)
Compliance requirement: Other
FAC record: FY2023 audit on fac.gov

Finding text from the filing

All Assistance Listing numbers and Federal Agencies (and pass-through entities) included on the accompanying schedule of expenditures of federal awards for the year ended September 30, 2023.

Finding: The Single Audit package was not submitted to the Federal Clearinghouse within the required time period.

Criteria: Uniform Guidance 2 CFR 200.512(a) requires that organization’s audit must be completed and data collection form and reporting package should be submitted within the earlier of 30 days after receipt of the auditor’s report or nine months after the end of the audit period.

Cause: The Agency does not consistently require a single audit each year. The Agency identified it had exceeded the threshold of federal grant expenditures and therefore required a single audit in February 2024. The single audit was not completed by the June 30, 2024 deadline.

Effect or potential effect: Potential suspension of funding provided by federal agencies.

Questioned costs: None.

Context: The September 30, 2023 Single Audit Package.

Identification as a repeat finding, if applicable: Not applicable

Recommendation: We recommend the Agency file the reporting package timely to the Federal Audit Clearinghouse.

View of the responsible officials: Management agrees with this finding.