Finding 1215385 (2023-003)

Material Weakness Repeat Finding
Requirement
F
Questioned Costs
-
Year
2023
Accepted
2026-05-21
Audit: 401939
Organization: New Space Nexus (NM)

AI Summary

  • Core Issue: There is a significant deficiency in internal controls over compliance with federal awards, leading to late submissions of required reports.
  • Impacted Requirements: Timely submission of quarterly Federal Financial Reports and Technical Progress Reports, as well as annual reports, is mandated by the award terms and Uniform Guidance.
  • Recommended Follow-Up: Implement a documented reporting control system that includes deadlines, assigned responsibilities, and periodic monitoring to ensure timely report submissions.

Finding Text

Type of Finding: (F) Significant Deficiency in Internal Control Over Compliance of Federal Awards (G) Instance of Non-compliance related to Federal Awards Federal Award Information Funding Agency: U.S. Department of Defense, passed through the Air Force Research Laboratory Title: New Space New Mexico Small Satellite Manufacturing and Innovation Hub (iHub) AL #: 12.599 Award #: FA9453-21-3-1001 Compliance Requirement: Reporting Award Period: 06/01/2021-05/31/2026 Questioned Costs: None Noted Condition For the year ended December 31, 2023, we reviewed required reporting for the award. Of 4 required quarterly Federal Financial Reports (FFR, SF-425), 1 was submitted after the required due date (reporting period: Q2]; due date: 30 days after end of quarter; submitted: 9/14/2023). Of 4 quarterly Technical Progress Reports tested, 1 was submitted late (periods: 1; due: 30 days after end of quarter; submitted: 6/1/2023). The 3 remaining Technical Progress Report had no evidence of submission. Required annual reports (Annual Performance Progress Report and SAM.gov annual financial assistance representations/certifications, were not submitted to AFRL as of 12/31/2023. Criteria The terms and conditions of Award No. FA9453-21-3-1001 require submission of specified financial and performance/technical reports by the 30th calendar day after the end of each reporting period, and require specified annual reports. Additionally, Uniform Guidance includes requirements addressing financial and performance reporting as applicable to the award. Effect Late or missing reporting reduces AFRL/DoD’s ability to timely monitor award performance and compliance and increases the risk of delayed identification of performance or financial issues requiring corrective action. Cause Reporting calendar control not established; responsibilities not assigned; supervisory review not performed; staff turnover; unclear interpretation of award terms. Recommendation All status reports should be prepared on time and reviewed before submission to AFRL. Management should implement a documented reporting control that (1) maps each required report to due dates, (2) assigns preparation/review/approval responsibilities (titles), (3) retains evidence of review and submission, and (4) performs periodic supervisory monitoring of on-time submission (e.g., quarterly checklist). Views of Responsible Officials and Planned Corrective Action New Space will ensure all required financial and programmatic reports are prepared and submitted on time in accordance with grant requirements. A centralized reporting calendar will track deadlines, and responsibilities for preparation, review, and submission will be clearly assigned. Program reports will be prepared by the VP Programs Manager, reviewed by the Executive Director, and documentation of submission will be retained. Financial reports will be prepared by the Financial Analyst, reviewed by the Executive Director, and documentation of submission will be retained. Periodic checks will be performed to ensure compliance, and any issues will be addressed promptly. Policy Owner: Financial Analyst; Implementation Date: March 31, 2024

Corrective Action Plan

Response: Management concurs with the finding. Corrective Action Plan: NewSpace Nexus will ensure all required financial and programmatic reports are prepared and submitted on time in accordance with grant requirements. A centralized reporting calendar will track deadlines, and responsibilities for preparation, review, and submission will be clearly assigned. Program reports will be prepared by the VP Programs Manager, reviewed by the Executive Director, and documentation of submission will be retained. Financial reports will be prepared by the Financial Analyst, reviewed by the Executive Director, and documentation of submission will be retained. Periodic checks will be performed to ensure compliance, and any issues will be addressed promptly. Designation of Employee Position Responsible for Meeting Deadline: Financial Analyst, by March 31st, 2024

Categories

Reporting

Other Findings in this Audit

  • 1215383 2023-001
    Material Weakness Repeat
  • 1215384 2023-002
    Material Weakness Repeat
  • 1215386 2023-004
    Material Weakness Repeat
  • 1215387 2023-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
12.599 CONGRESSIONALLY DIRECTED ASSISTANCE $1.87M
12.300 BASIC AND APPLIED SCIENTIFIC RESEARCH $50,946