Recommendation: The Authority should implement a formalized close process to ensure the Authority’s financial statements are filed with the established deadline with the Division of Local Government Services, Department of Community Affairs, State of New Jersey.
Management’s Response: Management recognizes the need to submit their audit report to the Division of Local Government Services, Department of Community Affairs, State of New Jersey within established deadlines to remain compliant with requirements. Management will make an effort to correct their timeliness and file their audits within the appropriate deadlines going forward.