Finding 398240 (2023-001)

- Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-05-22
Audit: 306911
Organization: Casa Grande, Inc. (MO)

AI Summary

  • Answer: Financial reports were not submitted on time to FASS.
  • Trend: This delay indicates a potential pattern of late submissions.
  • List: Follow up by ensuring timely submissions in the future and reviewing processes for compliance.

Finding Text

The financial reporting was not submitted electronically into the Financial Assessment Subsystem (FASS) within 90 days after year-end.

Corrective Action Plan

A Director of Finance was hired in March 2023 to ensure timeliness of financial statement filings. An upgraded accounting software (NetSuite) was implemented in May 2023 which created some temporary delays in timeliness of reporting as finance employees were trained on new processes. The accounting software upgrade is creating efficiencies that should facilitate the timely filing of financial statements moving forward.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.134 Mortgage Insurance_rental Housing $1.21M