Finding Text
Context: During the audit of the financial statements for YMCA, we noted that the organization's audited financial statements and Data Collection Form were not submitted to the Federal Audit Clearinghouse in a timely manner, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Effect: Failure to make timely required submissions of audited financial statements and Data Collection Form to the Federal Audit Clearinghouse is considered noncompliance with terms and conditions of federal awards. Potential actions by the awarding agencies could be withholding cash payment pending correction of the deficiency, withholding federal awards or terminating a federal award. Cause: The auditor was engaged after the nine month due date for submission of audited financial statement. Recommendation: We recommend that management complete the submission to the Federal Audit Clearinghouse as soon as possible after the audit is complete.