Finding Text
Criteria: Under 2 CFR 200.512(a), auditees that expend $750,000 or more in federal awards must submit their Single Audit report within nine months of the fiscal year end. Condition: The auditee’s fiscal year ended July 31, 2025. However, as of the date of this report (May 2026), the Single Audit report has not yet been issued — exceeding the nine-month submission requirement. Cause: The delay occurred because the client initially began providing the required data long after the fiscal year-end, resulting in the delayed issuance of the Single Audit report. Effect: Late submission constitutes noncompliance with federal regulations and may delay future federal funding or result in additional oversight. Recommendation: Management should ensure that all required financial and supporting documentation is provided in a timely manner after the fiscal year-end to facilitate completion of the audit within the expected reporting timeline. Repeat Finding: This is not a repeat finding.