The Pinon Project: single-audit findings

The Pinon Project

Cortez, CO

The FY2024 single audit reports 1 finding: 1 significant deficiency.

No FY2025 single audit on file as of October 30, 2026. For the fiscal year ending June 30, 2025, it was due March 31, 2026, 213 days earlier. It is expected because the FY2024 audit reported $827,632 in federal spending; an organization whose federal spending fell below the threshold would not need one.

Score: 3 of 100 (FY2024 audit)

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

Part	Rule	Points	Max
Material weaknesses	8 points each	0	24
Significant deficiencies	3 points each	3	9
Repeat findings	5 points each	0	15
Longest repeat chain	2 years 3, 3 years 6, 4 years 9, 5+ years 12	0	12
Modified major-program opinions	qualified 8 each; any adverse or disclaimer 15	0	15
Questioned costs	known amount of $25,000 or more, by share and dollars	0	15
Going concern	auditor included a going-concern paragraph	0	5
Prior-year lateness	prior-year audit late or not filed, scored only with a finding	0	5
Score		3	100

Federal funding, FY2024

$827,632 in federal awards spent, across 8 programs. Largest funding agencies:

Agency	Spent
Department of Health and Human Services	$617,811
Department of the Treasury	$134,931
Department of Agriculture	$74,890

FY2024 audit

FAC record: 2024-06-GSAFAC-0000368915
Fiscal year end: June 30, 2024
Accepted by FAC: May 21, 2025
Federal spending: $827,632 · 8 programs
Major programs: 2
Score: 3 of 100

Finding 2024-003

significant deficiency

Program: CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS (21.027)
Compliance requirement: Matching, level of effort, earmarking
FAC record: FY2024 audit on fac.gov

Finding text from the filing

U.S. Department of Treasury Coronavirus State and Local Fiscal Recovery Funds Applicable Federal Award Number and Year – H4HRG23166 and H4HRGP23180 – 2024

Matching, Level of Effort, Earmarking

Significant Deficiency in Internal Control over Compliance

Criteria: 2 CFR 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and conditions of the federal award. This includes proper tracking and monitoring of matching expenditure requirements.

Condition: During our testing, it was identified the Organization did not have a formal tracking and monitoring process to accumulate total matching expenditures incurred towards the requirement for each award.

Cause: The Organization has limited grants with matching requirements, therefore formal processes for tracking were not implemented.

Effect: The Organization’s internal controls failed to adequately monitor and track the matching expenses incurred to ensure compliance with the award requirements.

Questioned Costs: None reported.

Context/Sampling: Not applicable.

Repeat Finding from Prior Year: No

Recommendation: The Organization should implement internal controls to ensure matching expenditures are tracked throughout the award period and to ensure matching requirements of individual awards are complied with.

Views of Responsible Officials: Management agrees with the finding.