Finding Text
CRITERIA: 2 CFR 200.512, the Uniform Guidance requires that a single audit be completed and the data collection form as well as the reporting package be submitted to the Federal Clearinghouse within the earlier of 30 calednar days after the receipt of the auditor's report(s), or nine months after the end of the audit period. If the due date falls on a Saturday, Sunday, or a Federal holiday, the reporting package is due the next business day. CONDITION: We noted during our audit that TCA's 2022 fiscal year Uniform Guidance required audit and reporting package was not submitted to the Federal Clearinghouse within nine (9) months of TCA's December 31, 2022 fiscal year-end. CAUSE: TCA's books and records were not closed and audit-ready on a timely basis. Also, TCA did not engage its independent auditor on a timely basis. EFFECT: Late audit submission represents noncompliance with 2 CFR 200.512, the Uniform Guidance, and could adversely affect current and future grant awards. QUESTIONED COST: None RECOMMENDATION: TCA should implement policies and procedures to ensure timely preparation of audit-ready financial statements. Also, the independent auditor should be engaged on a timely basis. MANAGEMENT RESPONSE: TCA recognizes that the inability to complete the audit timely creates noncompliance with the Uniform Guidance. TCA is committed to implementation of the outlined corrective actions, segregation of duties, administration and Board montirogin in support of audit compliance to state and federal timelines.