Finding 1132239 (2023-003)

Finding 2023-003 – Significant Deficiency – Late Submission of Single Audit Federal Grantor: Corporation for National and Community Service Passed-through: Office of Planning Research California Volunteers Pass-through Grantor’s No.: 21ACIY29-C192 Compliance Requirement: Reporting Condition: IYT submitted its Audited Financial Statements and Single Audit Report to the federal clearinghouse in November 2024, eight months after it was due. Criteria: IYT was required to submit its Audited Financial Statements and Single Audit Report to the federal audit clearinghouse no later than March 31, 2024, nine months after the fiscal year-end (2 Code of Federal Regulations §200.512). Effect: Federal awarding agencies may deny future federal awards or subject IYT to additional cash monitoring requirements. This finding was not a result of internal control over individual federal programs and, accordingly, did not have a direct and material effect on the reporting requirements over IYT’s major federal programs. Cause: IYT did not to prepare its Audited Financial Statements and Schedule of Expenditures of Federal Awards in a timely manner due to turnover in personnel. Recommendation: IYT needs to ensure that it can close its books and submit its Audited Financial Statements and Single Audit Report to the federal audit clearinghouse no later than the statutory reporting deadline. Management’s Response: Management concurs with the finding and is working on developing a process for ensuring that audits can be completed more timely.