Finding Text
Condition The School Board did not submit its reporting package to the Federal Audit Clearinghouse within the required timeframe. Criteria In accordance with 2 CFR 200.512, auditees are required to submit the reporting package to the Federal Audit Clearinghouse the earlier of 30 calendar days after receipt of the auditor’s reports or nine months after the end of the audit period. Cause The reporting package was not submitted within the required timeframe due to delays in completion of the audit, which were impacted by the timing and availability of financial information and supporting documentation, including delays in receipt of necessary information and supporting documentation required to complete audit procedures. Effect The School Board was not in compliance with federal reporting requirements and submission of the reporting package was delayed beyond the required deadline. Recommendation Management should strengthen its financial reporting and year-end closing processes to ensure that all necessary information is prepared and available in a timely manner to facilitate completion of the audit within required reporting deadlines. Views of Responsible Officials and Planned Corrective Action Management will continue to submit documentation, data and other information in a timely manner. Obtaining the additional legal information requested by our external auditors through the confirmation process was delayed due to certain attorneys not being present in the office due to vacationing and/or handling other court cases. Although these things are not within the control of the Lafayette Parish School Board, management will be proactive in coordinating efforts between both parties; auditors and attorneys.