Finding Text
Material Weakness Reporting Criteria and Condition: Timely financial reporting was not followed. Context: The Single Audit and Data Collection Form was not timely filed Cause: The Borough did not implement adequate controls to ensure compliance with this reporting requirement. Potential Effect: The Borough could lose funding sources due to lack of timely filing. Recommendation: Timely financial reporting for grant requirements should be followed. Views of Responsible Officials and Planned Corrective Actions: Management understands the importance of complying with grant reporting requirements.