Colorado · Nonprofit · under $2M in federal spending
WEST COMMUNITY ECONOMIC DEVELOPMENT CORPORATION
DENVER, CO
The FY2023 single audit reports 2 findings: 2 material weaknesses.
No FY2024 single audit on file as of October 30, 2026. For the fiscal year ending December 31, 2024, it was due September 30, 2025, 395 days earlier. It is expected because the FY2023 audit reported $1,366,945 in federal spending; an organization whose federal spending fell below the threshold would not need one.
Score: 16 of 100 (FY2023 audit)
The sum of eight parts, each read from the audit. How the score works.
| Part | Rule | Points | Max |
|---|
| Material weaknesses | 8 points each | 16 | 24 |
| Significant deficiencies | 3 points each | 0 | 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 | | 16 | 100 |
Federal funding, FY2023
$1,366,945 in federal awards spent, across 5 programs. Largest funding agencies:
| Agency | Spent |
|---|
| Department of Commerce | $777,289 |
| Department of Housing and Urban Development | $327,873 |
| Department of the Treasury | $187,323 |
FY2023 audit
- FAC record
- 2023-12-GSAFAC-0000058719
- Fiscal year end
- December 31, 2023
- Accepted by FAC
- September 30, 2024
- Federal spending
- $1,366,945 · 5 programs
- Major programs
- 1
- Score
- 16 of 100
Finding 2023-001
material weaknessother matters
- Program
- BYRNE CRIMINAL JUSTICE INNOVATION PROGRAM (16.817); CDBG - ENTITLEMENT GRANTS CLUSTER (14.218); CONGRESSIONALLY RECOMMENDED AWARDS (16.753); CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS (21.027); ECONOMIC DEVELOPMENT CLUSTER (11.307)
- Compliance requirement
- Other
- FAC record
- FY2023 audit on fac.gov
Finding text from the filing
The SEFA prepared did not include assistance listing numbers and one grant (Economic Adjustment Assistance) was reported with an amount that was cumulative for both 2022 and 2023 expenditures.
Finding 2023-002
material weaknessother matters
- Program
- ECONOMIC DEVELOPMENT CLUSTER (11.307)
- Compliance requirement
- Other
- FAC record
- FY2023 audit on fac.gov
Finding text from the filing
West Community Development Corporation (dba BuCu West Development Center) tracks and reports trasactions for the reimbursement based on a cash basis of accounting; therefore the SEFA includes 2022 transactions and excludes some 2023 transactions that are on the first reimbursement request made in 2024.