Audit 383001

2025-003 Report Submission Compliance Criteria: According to the Uniform Guidance (2 CFR 200.512(a)(1)), a Single Audit’s required elements—including the audit report, reporting package, and Data Collection Form (SF-SAC)— must be submitted within 30 calendar days after the auditee receives the auditor’s reports or nine months after the end of the audit period, whichever is earlier. Condition: Per the Federal Audit Clearinghouse records, the Village’s Data Collection Form for the fiscal year ending April 30, 2024, was submitted on April 22, 2025, which is past the nine month deadline. This is deemed to be an instance of noncompliance with applicable reporting requirements. Cause: The delay occurred because the issuance of the financial statements was significantly postponed. This postponement caused a corresponding delay in the completion and issuance of the Single Audit report, which in turn resulted in late submission to the Federal Audit Clearinghouse. Effect: The late filing constitutes noncompliance with Uniform Guidance requirements, potentially impacting federal oversight and risking sanctions or additional monitoring by awarding agencies. Recommendation: We recommend the Village: 1. Implement procedures to ensure timely preparation and issuance of financial statements, as these drive the Single Audit timeline. 2. Establish a compliance calendar that tracks both financial statement and audit report deadlines, including the nine-month submission requirement. 3. Assign responsibility to a designated compliance officer to monitor progress and escalate delays promptly. Views of Responsible Officials: Management agrees with the finding.