Finding Text
Condition: YWCA Greater Newburyport did not file its audit report with the various federal agencies by the September 30, 2024 deadline. Criteria: The federal agencies requires that all not for-profit entities expending $750,000 or more of Federal awards to have an audit of its Federal awards performed and completed within nine months of the Organization's fiscal year-end. Cause: Originally the Organization thought an audit was not necessary due to not reaching the $750,000 threshold. It eventually became apparent during the audit that the Organization did receive pass-through Federal funding exceeding $750,000. As the audit progressed, additional procedures had to be performed as part of the audit process, which further delayed the reporting under the Federal Uniform Guidance requirements. Potential effect: YWCA Greater Newburyport did not comply with the Federal Uniform Guidance requirements. Recommendation: YWCA Greater Newburyport will need to file all future audit reports in a timely manner in accordance with Federal Uniform Guidance. Views of Responsible Officials: The company is aware that audits for the year ended 2024 are required and will commence the audit process earlier. The intention of the company is to file the 2024 audit by September 30, 2025.