Finding Text
Condition: The Association did not submit the Single Audit Reporting Package to the Federal Audit Clearinghouse prior to the March 31, 2023 deadline. Criteria: Based on requirements set forth by 2 CFR section 200.512(a), the Association is required to submit the Single Audit Reporting Package to the Federal Audit Clearinghouse by the earlier of thirty calendar days after receipt of the auditor's reports or nine months after the end of the audit period. Cause: The Association?s audit was not completed and submitted to the Federal Audit Clearinghouse prior to the deadline for the year ended June 30, 2022. Effect: The Association was not in compliance with the requirements of 2 CFR section 200.512(a) regarding the timely submission of the Single Audit Reporting Package to the Federal Audit Clearinghouse. The effect will not allow the Association to be considered a low risk auditee for their next two annual Single Audits. Questioned Costs: N/A Recommendation: We recommend the Association complete and submit all future annual Single Audits to the Federal Audit Clearinghouse prior to the required deadline to ensure all compliance requirements are met. Views of Responsible Officials: Management concurs with the finding and has developed a plan to correct the finding.