Audit 400895

2025-003: Late Submission Program Information: Funding Agency: All federal agencies listed on the schedule of expenditures of federal awards Title: All federal agencies listed on the schedule of expenditures of federal awards AL Number: All federal agencies listed on the schedule of expenditures of federal awards Award year and number: All federal agencies listed on the schedule of expenditures of federal awards Criteria - 2 CFR section 200.512(a) requires the reporting package and data collection form be submitted to the Federal Audit Clearinghouse the earlier of 30 calendar days after the reports are received from the auditors or nine months after the end of the audit period. Condition - The fiscal year audit and reporting package is being submitted after the required due date. Context - We reviewed the audit submission date in comparison to the required due date. Questioned Costs - None Effect- There is potential for suspension or cessation of federal and state funding Cause - There was a delay in finalizing the audit due to the implementation of a new financial reporting standard. Recommendation - We recommend that the District develop policies and procedures to ensure that District records are ready for audit and supported by adequate documentation which will allow the audit firm to complete the audit in a timely and efficient manner. Views of Responsible Official- Management acknowledges the finding and will review and update necessary policies and procedures to ensure that District records are ready for audit, supported by adequate documentation, and audited within nine months after year-end.