Finding Text
Criteria: The City is required to submit the federal single audit data collection form and reporting package by regulatory deadlines.
Condition: The City’s regulatory financial statement audit was not completed within the single audit reporting deadline of September 30, 2024.
Cause: Delays in the regulatory financial statement audit related to timeliness and accuracy of financial reporting.
Effect: Late submission of the single audit data collection form and reporting package to the federal clearinghouse.
Perspective Information: This finding represents a systemic issue.
Recommendation: We recommend that the City implement procedures to ensure the audit is completed and submitted to the federal clearinghouse in a timely manner.
View of Responsible Official: The City is in agreement with this finding and will complete and implement a corrective action plan.