Finding Text
Criteria: In accordance with 2 U.S. Code of Federal Regulations (CFR) 200.512, the Organization must submit its single audit reporting package and data collection form to the Federal Audit Clearinghouse (the FAC) within the earlier of 30 days after receipt of the auditors' report, or nine months after the end of the audit period. Condition: The Organization did not submit its single audit reporting package and data collection form (Form SF-SAC) for the year ended September 30, 2022 to the FAC by the required due date. Cause: The Organization did not have adequate procedures to ensure the timely filing of the single audit reporting package and data collection form to the FAC. Effect: Late filing has resulted in noncompliance with timely submission of financial information to grantor agencies. Repeated Finding: See finding 2021-001 included in the Status of Prior Audit Findings. Recommendation: We recommend that the Organization improve its financial reporting process to ensure compliance with the reporting requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, which requires that the single audit reporting package and data collection form be submitted to the FAC within the earlier of 30 days after the receipt of the auditors' report, or nine months after the end of the audit report, unless a longer period of time is agreed to in advance by the cognizant or oversight agency for the audit. Views of Responsible Officials and Planned Corrective Action: The audited financial statements for FY2022 will be finalized before the end of December 2024, and shortly thereafter, the single audit reporting package will be transmitted to FAC.