Management acknowledges the finding and concurs with the recommendation. The delay in submitting the unaudited and audited financial statements through HUD's Financial Assessment Subsystem (FASS) for the fiscal year ended June 30, 2024, resulted from delays in the completion of the financial reporting process and the availability of the information required to finalize the audit. Consequently, the Municipality was unable to meet the reporting deadlines established by HUD regulations. To address this deficiency, management has strengthened its internal monitoring procedures over the financial reporting process. The Federal Programs Director, in coordination with the Finance Department and the Municipality's independent auditors, will establish a reporting calendar that includes key deadlines for the preparation, review, completion, and submission of both the unaudited and audited financial statements. Management will also perform periodic follow-up meetings to monitor the status of the audit and ensure that all required supporting documentation is prepared and provided on a timely basis. The Municipality is committed to complying with the reporting requirements established under 24 CFR § 5.801, the Single Audit Act, and 2 CFR Part 200, Subpart F, and will implement these corrective actions to ensure that future financial statements are submitted within the required deadlines.