Finding Text
Criteria: 2 CFR 500.512(a)(1) states that the audit, the data collection form, and the reporting package must be submitted within 30 calendar days after the auditee receives the auditors' report or nine months after the end of the audit period (whichever is earlier). Condition: The College did not timely submit the Single Audit Reporting Package for the period July 1, 2024 to May 31, 2025. Cause: During the period July 1, 2024 to May 31, 2025, the College experienced turnover in the accounting department that resulted in delays to the audit. Effect: The College could be subject to additional compliance reviews. Recommendation: We recommend the College implements policies and procedures to ensure the accounting records are prepared and reconciled in a timely manner to ensure the audit and submission of the data collection form are completed in a timely manner. Views of responsible officials: The College agrees with the finding. Refer to the Corrective Action Plan.