Finding Text
Finding 2025-002 SF-425 Financial Status Report Condition: Form SF-425 Financial Status Report was not submitted timely to the USDA. Criteria: The Organization was required to file Form SF-425 Financial Status Report by January 30, 2026. Cause: The Organization did not file Form SF-425 Financial Status Report until May 2026. Effect: Not filing Form SF-425 timely could adversely affect the Organization’s compliance with the USDA regulations. Recommendation: We recommend the Organization document the cause of the late filing and retain evidence that the form was submitted. Repeat Finding: No. Views of Responsible Officials and Planned Corrective Actions: We agree with the auditor and will ensure that timely filed reports are made.