Audit 372270

Reporting Requirements Criteria – The Letter of Conditions for the United States Department of Agriculture (USDA) loans requires the City to complete an annual audit under the Single Audit Act of 1984 if the City expends $750,000 or more in Federal financial assistance per fiscal year. The audit is to be submitted within 9 months of the fiscal year end. Condition – The annual audit for the year ended June 30, 2022 was not submitted within nine months of the fiscal year end. Cause – Policies and procedures have not been established to require reports and other information to be submitted timely. Effect – The lack of established policies and procedures resulted in the late submission of the required reports and other information. Recommendation – The City should establish policies and procedures to ensure all reports and other information is submitted timely in accordance with federal requirements. Response and Corrective Action Planned – I did start reaching out to companies, even the one that completed our last audit, and no one would respond. I did reach out to the State Auditors and was put on the listing to be scheduled. Conclusion – Response accepted.