Finding Text
Criteria: 2 CFR 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards, #200.512 (a)(1) The auditee must complete and submit the single audit report within nine months of the School?s year-end. Condition and Context: The School did not track total federal expenditures to determine whether the School had gone over the limit to require a Single Audit, and final determination was not made until eight months after the fiscal year ended. Cause: Turnover in key financial staff and lack of understanding federal audit requirements. Effect: The audit was completed and submitted more than a month after the deadline. Questioned Costs: None Recommendation: Management should seek appropriate staffing and training for staff in the fiscal department to timely determine when a Single Audit is necessary. Views of Responsible Officials and Planned Corrective Actions: Management is now informed of the audit threshold and how to track it. However, management does not expect reaching the Single Audit requirement threshold again as they are closing the School, and thus, do not believe any further corrective actions are necessary.