Finding 1163499 (2024-001)

Finding 2024-001 – Filing Annual Reports Timely Statement of Condition: MBCDC violated the single audit requirements by not filing the Single Audit Data Collection Form (SF-SAC) to the Federal Audit Clearinghouse in a timely manner for both years ended December 31, 2024 and 2023. Criteria: When there are federal expenditures that exceed the amount of $750,000, the SF-SAC must be filed in a timely manner to ensure compliance with reporting requirements. Effect or Potential Effect: MBCDC is in violation of the Federal Audit Clearinghouse guidelines. Cause: Unaware of Federal Audit Clearinghouse filing requirements. Recommendation: MBCDC will file the current and prior year audited financials with the SFSAC to the Federal Audit Clearinghouse. Questioned Costs: $0 Reporting Views of Responsible Officials: MBCDC will file the 2024 and 2023 audited financial statements with the Federal Audit Clearinghouse to be back in compliance. Actions Taken or Plan on the Finding: MBCDC will file the 2024 and 2023 audited financial statements with the Federal Audit Clearinghouse and will continue to do so when required.