Finding 1073305 (2023-002)

Finding 2023-002 Federal Financial Reports Federal Program: ALN 98.U01 Criteria: The program requires Federal financial reports be submitted by the Foundation 30 days after the end of each quarter. Condition: The financial reports for the first two quarters of the year were not submitted within the required timeframe. Context: The Foundation failed to submit two quarterly Federal financial reports to the Federal Agency in a timely manner. Effect: The Foundation is not in full compliance with the terms of its grant agreement. Cause: The Foundation did not have appropriate policies and procedures in place to ensure that all required financial reports were prepared and submitted on time. Questioned Costs: None noted. Repeat Finding: Finding 2022-002 Recommendation: This was first brought to management's attention during the fiscal year 2022 audit, which occurred during fiscal year 2023. At that time, we recommended management of the Foundation improve its procedures surrounding the preparation and submission of required financial reports. We noted management took steps by the end of fiscal year 2023 to address these recommendations and remediate the finding.