Finding 497913 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-09-24

Audit: 320509

Organization: Virginia University of Lynchburg (VA)

Auditor: Accutax Bizsolutions LLC

AI Summary

Core Issue: The Date Collection Form (DCF) was not submitted within the required timeframe.
Impacted Requirements: Submission must occur within 30 days of receiving the auditor's report or nine months after the audit period ends.
Recommended Follow-up: Ensure timely submission of the DCF to avoid compliance issues in future audits.

Finding Text

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.

Corrective Action Plan

Management and financial staff will ensure timely filing in the future.

Other Findings in this Audit

1074355 2023-001

-

Programs in Audit

ALN	Program Name	Expenditures
84.268	Federal Direct Loan Program	$5.56M
84.425	Education Stabilization Fund	$3.28M
84.063	Federal Pell Grant Program	$606,145
84.031	Higher Education Institutional Aid	$591,052
15.904	Historic Preservation Fund Grants-in-Aid	$28,000
84.007	Federal Supplemental Educational Opportunity Grants	$20,393
84.033	Federal Work-Study Program	$8,873