Finding Text
Finding 2022-002: Delayed Reporting of Year-End Financial Information Criteria: Nonprofit organizations expending more than $750,000 in federal awards during a fiscal year are required to have a Single Audit and to submit a Data Collection Form to the Federal Audit Clearinghouse, along with the audited financial statements, by the earlier of 30 calendar days after receipt of the auditors' reports or nine months after the end of the audit period. Condition: The Organization's audit for the year ended June 30, 2022, was not submitted March 31, 2023, the latest date for the Organization to submit a timely Data Collection Form and audited financial statements to the Federal Audit Clearinghouse. Effect: The Organization's funding from federal and/or state agencies may be delayed as a result of the late submission. Cause: The Finance Director's position was vacant for most of the June 30, 2022 audit preparation period, it subsequently contracted with an outside CPA to assist with its audit preparation, and also, hired a new fiscal finance director to facilitate prompt financial reporting, and audit completion. Recommendation: We recommend that management continue its commitment of additional resources and staffing, to ensure prompt financial reporting to Board and grantors in a timely manner. . Views of Responsible Officials: Management agrees with this finding. See corrective action plan page for management?s response.