Finding Text
Criteria: The Company’s Uniform Guidance submission to the Federal Audit Clearinghouse (“FAC”) was due within nine months of its year end. Condition: The Company’s Uniform Guidance submission to the FAC was not filed on time within nine months of the end of its fiscal year. Cause: The Company had a mortgage refinance and major construction projects done that initiated in the prior year that carried over into the current fiscal year that caused delays in reconciling the accounting records. Context: When performing our audit we noted that the Uniform Guidance submission to the FAC was not filed on a timely basis. Effect: The Company was not in compliance with the requirement to complete the filing required by the Uniform Guidance within nine months of its year end, and therefore, the Company cannot be considered a low risk auditee next year. Recommendation: We recommend the Entity’s Uniform Guidance submission to the FAC be filed on time within nine months of the end of its fiscal year, as required. Views of the Responsible Official: See attached Corrective Action Plan