Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Condition: The Organization erroneously recorded a prior year subaward expense as a 2023 subaward expense. This was missed during the Chief Financial Officer's review of subaward invoices and during the Chief Executive Officer's overall review of the Statement of Expenditure of Federal Awards.
Criteria: Under 2 CFR §200.332, pass through entities are required to review financial and performance reports of subawardees to ensure accurate reporting and cutoff of invoices related to subawards.
Cause: The client does not have sufficient controls in place to ensure accurate reporting and cutoff of invoices related to subawards.
Effect: The preliminary Statement of Expenditure of Federal Awards ("SEFA") was understated in the current period.
Questioned costs: None.
Recommendation: Management should review subaward invoices after year-end to determine proper recording in the proper period to which it relates.
Views of responsible officials: Management of the Organization agrees with the finding. Management plans to review and revise existing policies and procedures to ensure accurate recording and proper cutoff of invoices related to subawards.
Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Condition: The Organization erroneously recorded a prior year subaward expense as a 2023 subaward expense. This was missed during the Chief Financial Officer's review of subaward invoices and during the Chief Executive Officer's overall review of the Statement of Expenditure of Federal Awards.
Criteria: Under 2 CFR §200.332, pass through entities are required to review financial and performance reports of subawardees to ensure accurate reporting and cutoff of invoices related to subawards.
Cause: The client does not have sufficient controls in place to ensure accurate reporting and cutoff of invoices related to subawards.
Effect: The preliminary Statement of Expenditure of Federal Awards ("SEFA") was understated in the current period.
Questioned costs: None.
Recommendation: Management should review subaward invoices after year-end to determine proper recording in the proper period to which it relates.
Views of responsible officials: Management of the Organization agrees with the finding. Management plans to review and revise existing policies and procedures to ensure accurate recording and proper cutoff of invoices related to subawards.