Finding Text
Federal Agency: U.S. Department of Agriculture (“USDA”)
Program Title: Section 538 Rural Rental Housing Loans
Assistance Listing Number: 10.438
Federal Award Source: Direct Funding
Pass-Through Entity: N/A
Pass-Through Identifying Number: N/A
Criteria – Section 200.512 of the Uniform Guidance states that the single audit shall be completed and the data collection form and reporting package shall be submitted within the earlier of 30 calendar days after receipt of the auditor’s report, or nine months after the end of the audit period.
Condition and Context – The Organization did not complete its single audit and submit its data collection form and reporting package for the year ended December 31, 2022 by the required deadline.
Cause and Effect - Due to a delay in the finalization of the Schedule of Expenditures of Federal Awards and the compiling of records and supporting documentation related to the financial statement audit and compliance audit, the Organization was late in completing its single audit and submitting its data collection form and reporting package to the Federal Audit Clearinghouse.
Questioned Costs – None noted.
Recommendation – We recommend that the Organization improve its financial reporting close process in order to complete its annual single audit and submit the data collection form and reporting package to the Federal Audit Clearinghouse by the required deadline.
View of Responsible Officials - We agree with the finding. We have implemented procedures to ensure future timely submission of our single audit reports. See our Corrective Action Plan for the fiscal year ended December 31, 2022 for additional detail.