Finding Text
2023-006 Federal Financial Reporting
Fiscal year finding initially occurred: 2022
CONDITION: Bossier Office of Community Services, Inc. did not provide accurate and timely submissions of its Federal Financial Report (SF-425) during FY 23.
CRITERIA: 45 CFR section 75.303(b) – Internal Controls, requires non-Federal agencies to comply with Federal statutes, regulations, and the terms and conditions of all Federal awards.
CAUSE: The processing and preparation of Federal Financial Reports (SF-425) was delayed as a result of significant financial management staff turnover during the first quarter of FY 22. During the fiscal year ending December 31, 2023, the reports were filed late, and as noted in finding 2023-004 contained significant errors.
EFFECT: By not receiving complete and accurate grant program activity financial reports, the Federal grantor agency may be prevented from making timely, informed decisions about grant program operations.
RECOMMENDATION: Management should develop and implement procedures to ensure that complete and accurate Federal Financial Reports are prepared, reviewed, and submitted in a timely manner.