Finding 26032 (2022-001)

Finding No. 2022-001: Submission to the Federal Audit Clearinghouse Condition The audited financial statements, reports, and supplemental information for the year ended September 30, 2021 were not submitted to the Federal Audit Clearinghouse within 30 days after receipt of the Corporation?s auditor?s report. Criteria Audits of financial statements and supplemental information performed under Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (?Uniform Guidance?) are required to be submitted to the Federal Audit Clearinghouse 30 days after receipt of the auditors? report, or nine months after the end of the fiscal year, whichever comes first. Cause The cause of the late submission was that the Executive Director of the Corporation was unable to login to complete the required approvals as a result of health issues. Effect The Corporation is noncompliant with requirements of the Uniform Guidance. Questioned Costs None Recommendation The Corporation should submit the audited financial statements to the Federal Audit Clearinghouse within 30 days of the receipt of the auditors? report and implement controls to ensure timely submission. Management?s Response Management agrees with the finding. Status Completed.