Audit 415735

CUCS had delays in producing final audit schedules related to key areas, specifically for revenues and accounts receivable, and expenses and accrued expenses that caused CUCS to re-schedule the audit different times and subsequently delay in the finalization of the audit process and production of financial statements. The Finance Department was in a period of transition, having its Chief Financial Officer and other staff resign during the fiscal year end, which contributed to the delays and difficulties in producing final adjusted financial information. As a result, the fiscal year 2025 financial statements were not finalized in time to meet the deadlines noted in 2 CFR Section 200.512(a)(1). In addition, subsequent to fiscal year end, CUCS hired an interim Chief Financial Officer and outside bookkeeping service to help in CUCS's day-to-day operations and perform various analyses in order to complete the audit process and the production of financial statements.