Finding 12383 (2022-001)

2022-001 Failure to Submit the Annual Financial Statements by the Due Date Condition: The financial reporting was not submitted electronically into the Financial Assessment Subsystem (FASS) within 90 days after year-end. Criteria: Timely filing of the annual financial statements electronically through FASS is required by the U. S. Department of Housing and Urban Development pursuant to 24 C.F.R., Part 5, Subpart H. Cause: The Request for Proposal (RFP) for audit services was not posted timely causing a delay in securing an audit firm. This was in part a result of changes with key executive staffing. Effect: The financial statements for the year ended June 30, 2022 were not finalized until approximately three months after year-end. There was not enough time for an audit to be completed and financial reporting to be submitted within 90 days after year-end. Identification of a repeat finding: This is a repeat finding from the previous audit, 2021-001. Recommendation: We recommend developing strategies to help with staffing issues such as offering incentives to attract candidates and making the most of the current workforce. Management?s Response/Corrective Action Plan: Management agrees. See Corrective Action Plan.