Finding Text
2024-003 UNIFORM GUIDANCE AUDIT SUBMISSION CONDITION: The City of Ronceverte failed to meet the audit submission deadline as set forth in the Uniform Guidance section 200.512 “Report Submission”. CRITERIA: Uniformed Guidance section 200.512 states in part: “...the audit must be completed and the data collection form described in paragraph (b) of this section and reporting package described in paragraph (c) of this section must be submitted within the earlier of 30 calendar days after receipt of the auditor’s report(s), or nine months after the end of the audit period...” CAUSE: The City does not have adequate internal controls in place to ensure that the year-end financial statements were prepared, in their entirety, in a timely manner. EFFECT: Because of the failure to have the year-end financial statements prepared in a timely manner, the City failed to meet the required audit submission deadline set forth in the Uniform Guidance. QUESTIONED COSTS: Not Applicable REPEAT FINDING PRIOR YEAR FINDING NUMBER No N/A RECOMMENDATION: We recommend the City develop and adopt controls to ensure that their financial statements are prepared in a timely manner after year-end. VIEW OF RESPONSIBLE OFFICIALS AND PLANNED CORRECTIVE ACTIONS: The CIty will work to develop and adopt controls to ensure that the year-end financial statements are prepared in a timely manner so as to facilitate a timely audit submission as set forth in the Uniform Guidance.