Finding Text
Federal Agency: U.S. Department of Commerce Federal Program Name: EDA Revolving Loan Fund Assistance Listing Number: 11.307 Federal Award Identification Number and Year: 06-49-02663 and Ongoing Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: May 1, 2021 to April 30, 2022 Type of Finding: ? Significant Deficiency in Internal Control Over Compliance ? Other Matters Criteria or Specific Requirement: Federal guidelines require internal control over specific requirements related to reporting of the EDA Revolving Loan Fund. The form ED-209 report must be submitted at a frequency as directed by EDA (13 CRF section 307.14(a)). Condition: During our testing over the semi-annual filings, it was noted the filings were not submitted timely by the due date noted within the electronic filing system. Context: This was noted during the testing over electronic filings completed during fiscal year 2022. Questioned Costs: None Cause: Management does not have a process in place to ensure required filings are completed and submitted by the due date noted in the filing system. Effect: The lack of timely filings could result in delay or denial of future funding due to noncompliance. Repeat Finding: N/A Recommendation: We recommend that the Village implement a process to ensure all required filings are completed timely. There should be a review process in place to ensure compliance with grant requirements.