Finding Text
Criteria: According to the Uniform Guidance, entities are required to submit their Data Collection Form (DCF) within nine months following the end of the fiscal year. This ensures timely reporting and compliance with regulatory requirements. Condition: Because the December 31, 2024 audit is being issued in November 2025, the Data Collection Form will be filed approximately 2 months after the required submission deadline. Cause: The delay in completing the audit, and ultimately submitting the data collection form was caused by turnover in the accounting department. Effect: Failure to submit the Data Collection Form timely results in non-compliance with the Uniform Guidance. This can lead to potential penalties, and loss of or decreases in funding. Moreover, it affects transparency and accountability of the entity’s financial reporting process.