Finding 1136391 (2023-002)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2025-05-08

AI Summary

  • Core Issue: The Single Audit was not submitted on time, missing the 9-month deadline after year-end.
  • Impacted Requirements: Compliance with 2 CFR section 200.512(a) for timely reporting to the Federal Audit Clearinghouse.
  • Recommended Follow-Up: Management should review and improve policies to ensure timely completion of audits in the future.

Finding Text

Compliance with Reporting Requirements Information on Federal Program: U.S. Department of Commerce COVID-19 Economic Adjustment Program federal assistance listing number 11.307. Criteria: 2 CFR section 200.512(a) requires the reporting package and data collection form to be submitted to the Federal Audit Clearing house the earlier of 30 calendar days after the reports are received from the auditor or 9 months after the end of the reporting period. Therefore, the December 31, 2023, reporting package deadline was September 30, 2024. Statement of Condition: The Single Audit was not filed within 9 months after year end as required by the Federal Audit Clearing House. Statement of Cause: The audit of the consolidated financial statements and Single Audit was not able to be completed prior to the submission deadline. Perspective Information: The Organization exceeded the threshold for a single audit for the first time in 2023. As a result, the Organization needed to contract with a new audit firm and the audit was not able to be completed prior to the submission deadline. Statement of Effect: The Organization was not in compliance with federal guidelines. Questioned Cost: None Repeat Finding: No Recommendation: We recommend management review policies and procedures to ensure timely and accurate information is available in order to complete the audit process timely. Views of the Responsible Officials and Planned Corrective Actions: Management agrees with the finding and will ensure that the required deadline is met in the future.

Categories

Reporting

Other Findings in this Audit

  • 559947 2023-002
    Significant Deficiency
  • 559948 2023-002
    Significant Deficiency
  • 559949 2023-002
    Significant Deficiency
  • 1136389 2023-002
    Significant Deficiency
  • 1136390 2023-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
81.135 Advanced Research Projects Agency - Energy $168,458
11.307 Economic Adjustment Assistance $3,485