Finding Text
Federal Agency: U.S. Department of Agriculture Federal Program: 10.766, Rural Development, Community Facilities Direct Loan Criteria or Specific Requirement – 2 CFR § 200.512, Report Submission, requires completion of an audit and submission of the data collection form and reporting package within the earlier of thirty calendar days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition - The audit and data collection form are being submitted after the required due date. Cause - The Corporation had not maintained appropriate levels of staff to ensure compliance with regulatory filing requirements with the prior year audit which delayed the start and completion of this year’s audit on a timely basis. Effect - Noncompliance with the requirements of 2 CFR § 200.512. There is a potential for suspension or cessation of federal funding under the federal award. Repeat Finding - This is a repeat finding from the prior year. See prior year finding 2023-002. Recommendation - The Corporation should take steps to ensure that its financial records are maintained on a current basis, reconciled timely, and audited within nine months after year-end. View of Responsible Officials and Planned Corrective Actions – See corrective action plan.