Finding Text
2022-006 Timely Submission of Data Collection Form and Single Audit Reporting to the Federal Audit Clearinghouse
Applicable to all assistance listing numbers and Federal Agencies (and pass-through entities) included on the accompanying Schedule of Expenditures of Federal Awards for the year ended June 30, 2022.
Criteria: Under the Uniform Guidance, Section 200.512, Report Submission, the audit must be completed and the data collection form and single audit reporting package must be submitted to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of the auditor’s report, or nine months after the end of the audit period.
Condition: The Corporation’s fiscal year 2022 Single Audit package was not submitted to the FAC by the deadline of March 31, 2023. This was the third consecutive fiscal year that this deadline has not been met.
Cause: The information was not timely filed because of delays in completing the single audit. Resource constraints within the Corporation’s Finance function, coupled with demands placed on the function as a result of the COVID-19 pandemic and other circumstances, have contributed to these delays.
Effect: The data collection form and single audit reporting package were not received by the FAC by the prescribed due date.
Questioned costs: None.
Identification as a repeat finding, if applicable: 2021-009
Recommendation: We recommend the Corporation continue its efforts to identify appropriate resources and implement the procedures necessary to ensure timely submission of the single audit reporting package.
View of responsible officials of the auditee: Management agrees with the finding and recommendation.