Finding Text
2023-001 Late submission of December 31, 2023 audit report – Federal Filing
Federal Program: ALN 10.664 and 10.902
Criteria: The Corporation is required to file its audit report each year to the Federal Audit
Clearinghouse within nine months after the end of fiscal year in accordance with 34 CFR 200.512.
Condition: The Corporation did not file its December 31, 2023 report to the Federal Audit Clearinghouse within nine months after the end of fiscal year.
Cause: The Corporation underestimated the time required to gather necessary information for the audit due to a lack of recent experience with single audits, leading to delays in completion.
Effect: The Corporation did not meet the submission requirements as set forth by 34 CFR 200.512.
Recommendation: We recommend the Corporation closely monitors this important submission requirement to avoid missing the deadline.
Management’s Response: Management will take corrective action to make sure the audit report is submitted to the Federal Audit Clearinghouse in compliance with the submission requirements.