Finding Text
Finding 2022-006: Single Audit Submission Deadline Criteria or specific requirement: 2 CFR Section 200.512(a) requires the data collection form and Single Audit reporting package be submitted the earlier of 30 days after the reports are received from the auditors or nine months after the end of the audit period. Condition: The reporting package for the year ended June 30, 2022 was not submitted by the March 31, 2023 reporting deadline. Questioned Cost: $-0- Cause: The Seminary initially determined federal expenditures were below the Single Audit threshold. Effect: The Seminary is not in compliance with the provisions of 2 CFR Section 200.512(a) for the year ended June 30, 2022. Views of responsible officials and planned corrective actions: The audit report on the financial statements for the year ended June 30, 2022 was issued on April 15, 2026, The Data Collection form and reporting package will be submitted within 5 business days thereafter.