Finding Text
Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended September 30, 2022 within the required timeframe.
Criteria - According to the Uniform Guidance compliance requirements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first.
Effect - The Corporation was not in compliance with the above Uniform Guidance compliance requirement.
Cause - Due to the complications of the transfer of management companies, management was not able to have the audit completed within the required timeframe.
Recommendation - We recommend that management submit the Form SF-SAC as soon as possible for the year ended September 30, 2022.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken.
(b) Action taken: Management will submit the Form SF-SAC to the Federal Audit Clearinghouse as soon as the audit is received for the year ended September 30, 2022.