Finding 20148 (2022-004)

Reporting Requirements ? Significant Deficiency Criteria: To provide reasonable assurance that the reporting requirement to timely file the annual audited financial statements with the Federal Audit Clearinghouse within nine months of the Association?s year end is met. Condition/Context: The Association?s June 30, 2022 audited financial statements were not filed with the Federal Audit Clearing house within nine months of the Association?s year end. Cause: The Uniform Guidance audit was not completed before the reporting deadline. Effect: Non-compliance with Uniform Guidance reporting requirements. Recommendation: We recommend that the Uniform Guidance audit be completed before the reporting deadline. View of responsible officials and corrective actions: We agree with this finding. We will be more aware of filing deadlines.