Finding 396597 (2023-001)

Criteria - Pursuant to 2 CFR section 200.512(a), the Single Audit reporting package shall be submitted within the earlier of 30 days after receipt of the auditor's report(s), or nine months after the end of the audit period. Condition - The Corporation did not submit the Single Audit Reporting Package for the year ended December 31, 2022 within nine months after the end of the audit period (September 30, 2023). Cause - The Corporation was unaware of the reporting requirement. Effect - Failure to submit the required Single Audit Reporting Package timely automatically results in the Corporation not qualifying for low-risk auditee status for the subsequent year's Single Audit. Recommendation - We recommend that the Corporation develop, document, and implement policies and procedures for to ensure timely submission of the Single Audit Reporting Package. Auditee’s comments and response - The Corporation will work on educating their board members on completing efficient and timely financial close and reporting procedures. Management believes their processes will ensure timely filing of the Single Audit Reporting Package in the future. Responsible party for corrective action: Chris Fischer, Board Secretary Repeat finding: No