Finding Text
Criteria: Organizations which expend $750,000 or more in federal awards annually are required to file a data collection form and audited financial statements with the federal government within nine months of fiscal year end.
Condition: The Organization’s data collection form was not timely filed for 2021 or 2022, and the data collection form for 2023 was not ready for filing prior to the September 30, 2024 deadline.
Effect: The delay in audit readiness, resulting in a delay in completing and filing the data collection form, creates an enhanced risk that material noncompliance could exist in the accounting records and not be detected in a timely manner.
Cause: The Organization has limited staffing resources.
Recommendation: We recommend that the Organization take steps to promptly complete all open audits and to file the data collection forms promptly. Additionally, we recommend that the Organization explore additional financial staffing to ensure that the operational needs of the Organization are being met.