Finding Text
Criteria: A federal single audit must be submitted to the Federal Audit Clearinghouse (FAC) nine months from the Town’s June 30 fiscal year end. Condition: The June 30 audit for 2024 audit was not submitted to the FAC as of October 31, 2024. Effect: By submitting the FAC late, the Federal Government does not receive important, timely feedback documented in the independent auditor’s reports such as internal control deficiencies related to compliance requirements for federal single audits. Cause: The Town experienced significant staffing challenges during the audit period, including high turnover and prolonged vacancies in the Finance Officer position. These personnel disruptions hindered the Town’s ability to compile and review the necessary financial information in a timely manner, ultimately delaying the completion and submission of the audit to the Federal Audit Clearinghouse. Repeat Finding: This is a repeat finding from the immediate previous audit, 2024-007. Recommendation: The Town should make the necessary adjustments to meet the FAC deadlines. Views of responsible officials and planned corrective actions: The Town agrees with the finding and agrees to adhere to the correction action plan on page