Finding Text
Audit Finding 2024-003 – Federal Audit Clearinghouse Submission
Criteria:
2 CFR §200.512 of the Uniform Guidance requires an entity expending more than $750,000 of federal funds in a fiscal year to submit a data collection form by a due date that is the earlier of 30 calendar day after receipt of the auditor’s report(s) or nine months after the end of the audit period.
Condition:
The Authority’s June 30, 2023 audited financial statements were not filed within the Federal Audit Clearinghouse submission within 9 months of the Authority’s year-end.
Cause:
The Authority was not aware of the reporting deadline and as a result the Authority was late submitting their 2023 audit to Federal Audit Clearinghouse.
Effect:
The Authority is not in compliance with Uniform Guidance requirements.
Recommendation:
We recommend the Authority become familiar with reporting requirements for each award and implement procedures to begin audit preparation work earlier in the fiscal year to ensure reports are filed within the nine-month reporting deadline set forth by Uniform Guidance.
Views of Responsible Official:
Management agrees with the finding.