Finding 1146430 (2022-004)

Criteria or Specific Requirement – Management is required to submit Quarterly and Annual Financial Status Reports (SF-425) and Quarterly Real Property Status (SF-429) in a timely manner. Condition – Some reports were not submitted by the date they were due. Context – During our testing of reporting, we noted that there were no controls in place to ensure reports are submitted on time Cause – Procedures were not in place to ensure the timely submission of the Quarterly and Annual Financial Status Reports. Effect – In certain instances reports were not received by Federal officials in a timely manner. We found that the Q4 SF-425, due on October 30, 2022, was submitted untimely on April 24, 2023. We found the Q4 SF-429 was due October 30, 2022, was submitted on January 1, 2023. Recommendation – We recommend that management ensure that controls are in place to ensure that reports are submitted on time. Views of Responsible Officials and Planned Corrective Actions – A calendar reminder has been set up in Outlook to begin 10 days prior to the submission deadline of each quarterly SF-425 report.