Averett University Corrective Action Plan U.S. Department of Education Averett University respectfully submits that following corrective action plan for the year ended June 30, 2023. Audit Period: June 30, 2023 2023-001 Lack of timely filing of Data Collection Form to the Federal Audit Clearinghouse Criteria: A Single Audit requires the submission of the Date Collection Form (DCF) to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of an auditor’s report, or nine months after the end of the audit period, unless a different period is specified in a program-specific audit guide. Condition: The DCF for fiscal year 2022-2023 was not submitted to the FAC within the required timeline. Action Taken: Current staffing has been increased to improve the timely preparation and submission of the audit data. The late submission for Fiscal Year 22-23 was an anomaly, the result of what could be called the perfect storm. The Controller resigned on Jun e30, 2023, following within days, by the departure of a Senior Accountant. Adding to the problem, the institution is in the throes of implementing a new ERM. Operations are stabilizing now, even though the CFO/COO resigned April 1, 2024. Filling the vacant CFO/COO position and other vacancies within the Business Office are being given top priority. Again, the untimely filing of FY23 was an anomaly that will not be repeated in further fiscal years. Responsible Party: Dr. Tiffany M. Franks Point of Contact: Gary McCombs Expected date of correction: 6-30-24