Finding Text
Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024.
Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements.
Effect: May impact future funding from NSF.
Repeat Finding: Yes, repeat finding of 2022-002.
Questioned costs: None
Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee.
Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.