Finding Text
2024-003: Late Audit Filing
Condition: The Organization did not submit the audit report to the Federal Audit Clearinghouse (FAC) within 9 months after the end of the fiscal year in accordance with Uniform Guidance.
Criteria and Cause: The June 30, 2024 audit was required to be submitted to the FAC within 9 months after the end of the fiscal year in accordance with Uniform Guidance. Due to turnover of the CEO, delay in receiving information requested, and other factors, additional time was needed to gather the necessary information and this deadline was not met.
Effect: The potential effect of not submitting the consolidated financial statements in a timely manner could subject the Organization to disciplinary measures by Federal and state grant agencies including Arkansas Department of Human Services and Arkansas Department of Education.
Recommendation: We recommend that the Organization submit the current audit to the FAC as soon as available, and that the Organization work diligently to meet all future audit filing deadlines.