Recommendation: We recommend that the Foundation get caught up and hold meetings with each Principal Investigator to answer any questions they have. The goal would be to make sure they are comfortable with the reporting that is being done timely going forward. We also recommend that policies and procedures in place be reviewed and updated to ensure that this issue doesn’t recur in the future. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: 1. The ongoing comprehensive financial review of Principal Investigator (PI) projects will be completed to ensure all project accounts are current and accurate. As PI account reconciliation is completed, PIs will be offered the opportunity to meet with members of the accounting team to review their project financial statements. 2. A Project Financial Reporting policy will be developed for Board approval which will dictate the required frequency and format of financial reports, and which will comply with applicable policies. Templates for PI financial reporting will be improved to provide accurate, easily comprehensible and actionable information to enable PIs to make informed financial management decisions. The Finance Committee will monitor the timeliness of statement delivery. Name(s) of the contact person(s) for corrective action: Alicia Swan, Board Chair Completion date for corrective action plan: 12/31/26