Finding Text
Single Audit Reporting
Criteria:
The federal single audit is required to be submitted no later than nine months after the year-end.
Condition:
For the year ended June 30, 2023, the Enterprise did not meet this requirement.
Cause:
There were financial reporting challenges during the year which did not allow for accumulation of the required information to complete the audit timely.
Effect:
The Enterprise could be at risk for loss of funding if the single audit requirements are not met.
Recommendation:
We recommend that the Enterprise accumulate the required information during the year and perform reconciliations in a timely manner to facilitate timely reporting.
Management’s Response:
The Enterprise is working on improving its processes in order to met the reporting requirements.