Finding Text
Finding 2023-4 Single Audit Reporting Requirements Condition: Repeat finding from prior year 2022-4. Single Audits are required for all recipients who expend $750,000 or more in aggregate federal financial assistance within their fiscal year. The Single Audit reporting packages are due to the Federal Audit Clearing House by the earlier 30 days after receipt of the Auditor’s report or within nine months after the Auditee’s fiscal year end. The organization’s fiscal year end of December 31, 2023 would require the submission of the annual data collection packet no later than September 30, 2024. Criteria: The Office of Management and Budget is responsible for issuance and maintenance of Single Audit regulations. They require that a single audit data collection packet be prepared and submitted no later than 30 days after receipt of Auditor’s report or within nine months after the Auditee’s fiscal year end. Effect of Condition: Without compliance with Office of Management and Budget reporting requirements, the organization could incur penalties for not timely filing, risk loss of current and/or future funding. Cause of Condition: During the fiscal year 2023 and subsequent, the organization had undergone significant changes in personnel including but not limited to executive director(s), financial administrators, and financial staff. The organization’s internal control systems had a lapse of operational implementation. Recommendation: We recommend that the internal control procedures of the organization be reviewed on a revolving schedule for both effectiveness of design of the controls and operational implementation of controls. Proper oversight should be included in the control procedures to afford meeting reporting requirements and timeliness of reporting. View of Responsible Officials and Planned Corrective Actions: Toledo Lucas County Homelessness Board agrees with the finding. The recommended corrections have been developed and implemented as of the date of the audit conclusion.