Finding Text
Finding SA 2023-002 Reporting: Late Submission of Single Audit Reporting Package Criteria
Per 2 CFR §200.508(a) and §200.512(a) of the Uniform Guidance, entities that expend $750,000 or more in federal awards in a fiscal year must arrange for an audit in accordance with 2 CFR 200.509 and submit the Single Audit reporting package to the Federal Audit Clearinghouse (FAC) no later than nine months after the end of the fiscal year or 30 days after the receipt of the audit report, whichever is earlier. Timely submission is critical to ensure compliance with federal requirements and continued eligibility for federal funding.
Condition
The Organization did not submit the Single Audit reporting packages for the 2022 and 2023 audits within the required reporting timeline.
Cause/Effect
The late submission was due to delays in the Organization’s financial closing process. This non-compliance with the Uniform Guidance may result in the imposition of penalties and/or unnecessary costs.
Questioned Costs
None
Recommendation
We recommend that the Organization strengthen its internal controls over its financial accounting and reporting process to ensure consistent compliance with the Uniform Guidance.
Views of responsible officials and planned corrective actions:
The Organization’s Accounting Department, under the direction of the Chief Executive Officer, Connie Franks will ensure that there’s proactive communication, dedicated resource allocation, and regular status checks on the deadline. He should ensure everyone involved understands the deadlines and responsibilities to avoid any delays. Completion of the referenced corrective action will be implemented by January 2025.