Finding Text
DELINQUENT FILING OF SINGLE AUDIT REPORTS – significant deficiency. Criteria: Uniform Guidance requires audit reports be filed within the earlier of 30 days after receipt of audit report or nine months after the end of the audit period. Condition: CAFF is not in compliance with such filing requirement and the audits are significantly in arrears. Questioned Costs None Effect: Funders may delay future grant reimbursement or discontinue contracts. Cause: The fiscal 2022 Single audit report is the Agency’s first Single audit under both U.S. generally accepted auditing standards and under the Uniform Guidance. After it was understood that the Federal expenditure threshold for a Single Audit had been exceeded, CAFF began preparing for this initial Single audit, which included converting its financial statements to a GAAP basis and completing the annual close. Recommendation: Once all delinquent Single Audits have been completed in the near future, we recommend that CAFF maintain accurate grant reporting within QuickBooks to ascertain, on a timely basis, if the Single audit threshold has been reached. Status: See Corrective Action Plan on page 35. CAFF transitioned its accounting close to an outside CPA firm to close its books and prepare for a Single Audit during fiscal 2024. The first delinquent audit (GAAS only) was completed in June 2025, and the 2022 single audit was completed in December 2025.