Finding Text
Criteria - According to 2 CFR §200.512, non-federal entities must submit their audit reports, including financial information, to the Federal Audit Clearinghouse (FAC) within nine months after the end of the audit period. Condition - The Town did not submit its audited financial information for the year ended December 31, 2024, to the FAC by the required deadlines. Cause - The Town did not submit required reports to the FAC within nine months after the end of the audit period. Effect - The Town is currently not meeting the reporting requirements mandated for federal awards. Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Questioned Costs - None identified. Recommendation - The Town should ensure required reports are filed to FAC within nine months after the end of the audit period. Views of Responsible Officials and Planned Corrective Actions - (1) Audit Finding 2025-001 - The Town did not submit its audited financial information for the year ended December 31, 2024, to the FAC by the required deadlines. (a) Implementation Plan of Actions - The Town will submit required reports to the FAC within nine months after the end of the audit period. (b) Implementation Date - This will be implemented for the year ending December 31, 2026. (c) Persons Responsible for Implementation - The Comptroller and the Town Board.