Audit 373429

Criteria - According to 2 CFR §200.512, non-federal entities must submit their audit reports, including financial information, to the Federal Audit Clearinghouse (FAC) within nine months after the end of the audit period. Condition - The Town did not submit its audited financial information for the year ended December 31, 2024, to the FAC by the required deadlines. Cause - The Town’s financial statements required significant audit adjusting journal entries. Effect - The Town is currently not meeting the reporting requirements mandated for federal awards. Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Questioned Costs - None identified. Recommendation - The Town should reconcile all its balance sheet accounts at year-end. Views of Responsible Officials and Planned Corrective Actions - The Town did not submit its audited financial information for the year ended December 31, 2024, to the FAC by the required deadlines. (a) Implementation Plan of Actions - The Town will reconcile its balance sheet accounts at year-end. (b) Implementation Date - This will be implemented for the year ending December 31, 2025. (c) Persons Responsible for Implementation - The Comptroller and the Town Board.