Finding Text
Criteria or specific requirement: In accordance with 2 CFR 200.358 the recipient must submit financial reports as required by the Federal award. The grant requirements state that the recipient must submit form SF-425 on a semi-annual basis for the periods ending March 31 and September 30, or any portion thereof. 2 CFR 200.328(c) requires these semi-annual reports be submitted no later than 30 days after the reporting period. Per Uniform Guidance 2 CFR 200.303, non-federal entities receiving federal awards are required to establish and maintain internal controls designed to reasonably ensure compliance with federal laws, regulations, and program compliance requirements. Condition: The College did not submit the required SF-425 report for the period ending March 31, 2024. Questioned Costs: None. Context: During our testing of financial reports, the College was unable to provide the SF-425 report for the period ending March 31, 2024. Cause: The College was not aware that this report had not been submitted. Effect: The College was not in compliance with the Department of Commerce regulations for timely and accurate reporting of the SF-425 report. Repeat Finding: No. Recommendation: We recommend the College review its reporting procedures to ensure all reports are completed and submitted timely. Views of responsible officials: There is no disagreement with the finding.