Finding Text
Federal Program: U.S. Department of Housing and Urban Development AL #14.871 - Significant Deficiency. Criteria: The Uniform Guidance requires all entities that expend in excess of $750,000 to file audited financial statements and a Data Collection Form within 9 months of year-end. Condition: The Authority's December 31, 2022 audited financial statements and associated Data Collection Form were not filed with the Federal Audit Clearinghouse within 9 months of the Authority's year-end. Questioned Costs: None. Context: N/A. Effect: The Authority is not in compliance with Uniform Guidance requirements. Cause: The financial statements were not completed within the 9-month window which delayed the submissions to the Federal Audit Clearinghouse. Repeat Finding: See 2021-007. Recommendation: We recommend the Authority ensures reconciliations are prepared in a timely manner to allow for an efficient audit process. Views of Responsible Officials: Management recognizes the deficiency and plans to implement the auditor's recommendation.