Finding Text
2023-010 Annual Financial Report and Audit (Repeated 2021-02, 2022-06)
CFDA Title: Coronavirus State and Local Fiscal Recovery Funds
CFDA Number: 21.027
Federal Award Number and Year: N/A
Name of Federal Agency: N/A
Name of Pass- Through Entity: Direct, Department of the Treasury
Condition:
The City did not complete and submit its annual financial report (AFR) within 6 months of
the end of the reporting period. The city did not submit its audit report within 12 months
of the end of the audit period. The city did not submit the annual budget timely.
Criteria:
In accordance with MCA 7-6-611(2)(a), an AFR must be completed and filed with the
Montana Department of Administration within 6 months of the City’s fiscal year end. In
accordance with MCA 7-6-611(2)(b), an audit report must be completed and filed with the
Montana Department of Administration within 12 months of the end of the audited period.
Effect:
The City is out of compliance with MCA regulations
Cause:
The City had turnover in both its management functions and accounting positions making
it difficult for the new staff to catch up.
Recommendation:
The finance department should ensure the timely completing and filing of its AFR and
audit.