Finding 1228519 (2024-001)

Finding Reference: (2024-001) Material Weakness Criteria - Management is responsible for establishing and maintaining effective internal controls and for the fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. Condition - The Data Collection Form for the year ended June 30, 2024 was not filed with the Federal Audit Clearinghouse within nine months after year end. Cause - The late finding resulted from a lack of internal controls over Federal financial reporting. Effect - The Data Collection Form for the year ended June 30, 2024 was not filed with the Federal Audit Clearinghouse within nine months after year end. Questioned Costs - None identified. Recommendation - The YWCA of Western New York, Inc. should establish accounting procedures to properly identify Federal expenditures and implement controls to complete the timely submission of the Data Collection Form. Management’s Response - The previous Agency leadership team did not identify that a Single Audit was required for the fiscal year ending June 30, 2024. The current leadership team determined that the organization was subject to a Single Audit because it received federal funds exceeding the $750,000 threshold during that fiscal year. As a result, the current auditors, EFPR, were engaged to perform the required Single Audit. The Agency has implemented accounting procedures to ensure proper identification of federal expenditures and timely submission of the data collection form to the Federal Audit Clearinghouse.