Finding Text
Criteria In accordance with 2 CFR §200.512, auditees are required to submit the single audit reporting package, including the single audit report and the Single Audit Collection Form (SF-SAC) to the Federal Audit Clearinghouse (FAC) the earlier of 30 days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition and Context The single audit reporting package for the fiscal year ended June 30, 2024 was submitted beyond the required reporting deadline. The submission exceeded the 30-day timeframe following the auditors’ report date. Cause The Organization did not have a robust compliance review processes to monitor the single audit filing deadline. Effect or Potential Effect Failure to timely submit required filing documents represents noncompliance with federal reporting requirements and could impact future federal funding if not corrected. Questioned Costs None. Recommendations We recommend that the Organization strengthen its year-end reporting procedures to ensure timely submission of the single audit reporting package to the FAC. Management should assign responsibility for monitoring submission deadlines, create a submission checklist, ensure calendar reminders for key dates, and establish a formal review process to confirm that the reporting package is submitted prior to the required due date. Views of Responsible Officials and Planned Corrective Actions Management agrees with the finding and recommendations. See the attached corrective action plan.