Audit 404058

Finding No. 2024-002: Semi-Annual Financial Report Was Not Timely Filed Assistance Title: The Mike Mansfield Fellowship Program Assistance Listing Number: 19.415 Federal Agency: U.S. Department of State Type of Finding: Significant Deficiency and Noncompliance Category of Finding: Reporting: Semi-Annual Financial Reports Known Questioned Costs: $-0- Likely Questioned Costs: $-0- Criteria Per the signed grant agreements for the Mike Mansfield Fellowship Program, the recipient is required to submit semi-annual financial reports. Reports are due 30 days after the end of a reporting period. A final financial report is due 120 calendar days after the period of performance end date. Condition During our reporting testing of one semi-annual financial report, we noted that the one semi-annual report was not filed within 30 days after the end of the reporting period. Cause The late filing of this report appears to be due to staffing changes and inadequate internal controls over the monitoring of the timely filing of these reports, resulting in the late filing. Effect Failure to comply with these reporting requirements may jeopardize the eligibility for future awards and/or delays in payments. Repeat Finding This is not a repeat finding. Recommendation We recommend that the Foundation strengthen its controls over the monitoring of the timely filing of semi-annual and final financial reports. This may include implementing a tracking system to monitor deadlines and conducting periodic semi-annual reviews to verify that the reports were timely filed. Management’s Response Management concurs with this finding. See management’s response and corrective action plan.