Finding Text
Criteria - Management is responsible for establishing and maintaining effective internal controls and for the fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. (This is a repeat of prior year finding 2022-01).
Condition - The Data Collection Form for the year ended September 30, 2023 was not filed with the Federal Audit Clearinghouse within nine months after year end.
Cause - The late filing resulted from a lack of internal controls over Federal financial reporting.
Effect - The Data Collection Form for the year ended September 30, 2023 was not filed with the Federal Audit Clearinghouse within nine months after year end.
Recommendation - We recommend that the School should implement controls to complete the timely submission of the Data Collection Form.
Management response - See corrective action plan provided by the Head of School.