Finding 1115977 (2024-002)

Reference Number: 2024-002 Finding: Finding Type: Immaterial noncompliance with major program requirements Title and CFDA Number of Federal Program: 59.046 – Small Business Administration Microloan Program Finding Resolution Status: Resolved Information on Universe and Population Size: All quarterly and annual reports pursuant to the mutually agreed upon Reporting Schedule. Sample Size Information: A sample of 3 reports for fiscal year 2024 were selected for testing compliance with reporting pursuant to the mutually agreed upon Reporting Schedule. Identification of Repeat Finding and Finding Reference Number: N/A Criteria: The Organization is required to submit the quarterly reports within 30 days following the reporting period. Statement of Condition: The Organization failed to submit the SF PPR report as of December 31, 2023 by January 30, 2024. The report was filed March 22, 2024. Cause: The Organization is unable to determine why the report was filed untimely. Personnel responsible for reporting at the time are no longer employed by the Organization. Effect or Potential Effect: The Organization is noncompliant for the performance period ended December 31, 2023 with no sanctions imposed. The Organization submitted the requested report late. Auditor Noncompliance Code: L - Reporting Reporting Views of Responsible Officials: Management agrees with the noncompliance with no sanctions imposed conclusion. Context: No additional context identified by the Organization which is not otherwise presented herein. Recommendation: All requested reports should be submitted in accordance with the mutually agreed upon Reporting Schedule. Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations: Management should submit all requested reports in accordance with the mutually agreed upon Reporting Schedule. Response Indicator: Agree Completion Date: March 1, 2025 Response: Management acknowledges noncompliance in the current fiscal year and has submitted the requested report to the awarding agency. Questioned Costs: None