Finding Text
Criteria - According to 2 CFR §200.512, non-federal entities must submit their audit reports, including financial information, to the Federal Audit Clearinghouse (FAC) within nine months after the end of the audit period. HUD-specific guidelines also require timely submission of financial data via the Financial Data Schedule (FDS) in the Real Estate Assessment Center (REAC) as part of the compliance requirements for entities receiving federal assistance. Condition - The Town did not submit its audited financial information for the year ended December 31, 2024, to the FAC or to HUD via the FDS by the required deadlines. Cause - The Town’s ongoing transition to the MUNIS software platform has impacted its capacity to generate comprehensive financial information and adhere to the expected audit timelines. Effect - The Town is currently not meeting the reporting requirements mandated for federal awards. Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Questioned Costs - None identified. Recommendation - The Town should work closely with MUNIS representatives to address specific challenges and expedite the resolution of any system technical issues. Views of Responsible Officials and Planned Corrective Actions - The Town did not submit its audited financial information for the year ended December 31, 2024, to the FAC or to HUD via the FDS by the required deadlines. (a) Implementation Plan of Actions - The Town will work with MUNIS representatives to address specific challenges and expedite the resolution of technical system issues. (b) Implementation Date - This will be implemented for the year ending December 31, 2025. (c) Persons Responsible for Implementation - The Comptroller and the Town Board.