Finding Text
Finding 2023-004: Financial Reporting Timeliness (Compliance) Criteria: In accordance with CFR section 200.512 of the Uniform Guidance, the audit must be completed and the data collection form and reporting package must be submitted to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditors report(s), or nine months after the end of the audit period. Condition: The 2023 Single Audit reporting package and data collection form have not been submitted to the Federal Audit Clearinghouse by the deadline of March 31, 2024. Cause: There were various accounting issues noted in findings 2023-001 through 2023-003 that caused delays in the completion of the fiscal year 2023 audit. Effect: The filing of the Single Audit Reporting package and data collection form is past the due date. Recommendation: As noted in finding 2023-001, we recommend the City strive to close the year-end with properly prepared reconciliations within 3-4 months after year-end in order to complete the annual financial audit timely. Management’s Response: See Corrective Action Plan.