Finding 1152287 (2024-002)

2024-02: Timely Submission The Single Audit Reporting Package for the year ended December 31, 2023 was submitted to the Federal Audit Clearinghouse on April 26, 2025, which was beyond the required date of September 30, 2024. This late submission constitutes noncompliance with 2 CFR §200.512(a). Criteria: The Single Audit Reporting Package for the year ended December 31, 2023 is required to be filed the earlier of 30 days after the receipt of the auditors’ report or nine months after year end. Condition: The Single Audit Reporting Package was uploaded to the Federal Audit Clearinghouse and was reviewed and approved; however, it was not submitted at that time resulting in the submission being late. Cause: Fraser and Affiliate did not receive notification that the uploaded reporting package was certified by its auditor. As a result, the uploaded Single Audit Reporting Package to the Federal Audit Clearinghouse was not finalized and submitted. Questioned Costs: None Effect: Monitoring procedures in place were not effective in ensuring the approved Single Audit Reporting Package was submitted timely. Recommendations: Fraser and Affiliate should implement controls to ensure the uploaded and approved Single Audit Reporting Package is timely submitted. Views of Responsible Officials and Planned Corrective Action: Management concurs with the finding and recommendation. Management will implement an additional step to the submission process to ensure the uploaded and approved Single Audit Reporting Package is timely submitted. The additional step will involve a reminder to reach out to its auditor on or prior to the due date if communication from its auditor noting its certification is not received.