Finding Text
Compliance Requirement: Special Tests and Revisions – Data Collection Form and Single Audit Reporting Package Program: Disaster Grants – Public Assistance – (Presidentially Declared Disasters) CFDA #: 97.036 Agency: Virgin Islands Territorial Emergency Management Agency Award #: FEMA 4535-DR, FEMA 4340-DR Award Years: 04/27/2021 – 07/31/2027 04/20/2021 – 09/30/2026 04/08/2020 – 08/31/2026 04/26/2021 – 12/31/2025 05/04/2021 – 12/31/2035 06/03/2021 – 09/30/2026 Criteria: 2 CFR 200.512 requires that an entity’s single audit is to be submitted the earlier of thirty days after the receipt of the auditor’s report or nine months after the end of the audit period to the Federal Audit Clearinghouse (FAC). Condition: The Economic Development Authority (the Authority) audited financial statements for the September 30, 2024, year-end was not submitted to the Federal Audit Clearinghouse within the stipulated nine months after year-end. Questioned Costs: $-0- Context: This is a condition identified based on review of Uniform Guidance requirements and the grant agreements. Effect: The project is not in compliance with the reporting compliance of the Office of Management and Budget for non-profit, state and local government entities. Cause: There were transitions in financial personnel, which resulted in delays in the audit process. Recommendation: We recommend that the Authority meet the reporting deadline by establishing an audit timeline to ensure that the reporting package is submitted to the FAC annually within the required timeframe. Views of Responsible Management Official and Corrective Action Plan: Management concurs with finding. See Current Year Corrective Action Plan.