Finding Text
2024-008 - Late Single Audit Filing Submission Finding Type: Material noncompliance Compliance Requirement: Reporting Condition/Finding: The Village did not submit its Single Audit reporting package to the Federal Audit Clearinghouse by the required deadline. The audit was filed substantially late due to the Village not having its records and financial reporting ready in time to support a timely audit. Criteria: Per 2 CFR §200.512(a), the auditee must submit the data collection form and the reporting package to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor’s report(s), or nine months after the end of the audit period. Timely submission is required for continued eligibility for federal awards and to meet transparency and accountability standards. Cause: The Village was not prepared to support the audit process within the required time frame and did not have internal procedures in place to monitor and comply with the Single Audit filing deadline. Effect: The delayed filing represents material noncompliance with the Uniform Guidance reporting requirements. Untimely Single Audit submission may negatively affect the Village’s standing with federal agencies, delay access to future funding, and hinder oversight of federally funded programs. This represents noncompliance that is material in relation to the applicable compliance requirements. Recommendation: We recommend that the Village implement procedures to monitor Single Audit deadlines, ensure timely readiness of accounting records, and formally track filing requirements to support on-time submission of future audit reports. View of Responsible Officials: Management’s response and planned corrective action can be found in the accompanying Corrective Action Plan.