Finding 508183 (2022-003)

Significant Deficiency Repeat Finding
Requirement
A
Questioned Costs
-
Year
2022
Accepted
2024-11-18

AI Summary

  • Issue: The federal single audit was submitted late, missing the September 30, 2023 deadline.
  • Requirements Impacted: This violates Uniform Guidance, which mandates submission within nine months of year-end.
  • Recommended Follow-Up: Improve monitoring and review processes to prevent errors and ensure timely submissions in the future.

Finding Text

Lateness in Submission of Single Audit Criteria: Uniform Guidance requires a federal single audit to be submitted to the Federal Audit Clearing House (FAC) in accordance with federal guidelines within nine months of year end. Condition and Context: The financial information for the year ended December 31, 2022, included errors in certain accounts that were the result of ineffective monitoring procedures and/or closing processes throughout the year. These errors can cause misstatements in the financial statements, and in certain circumstances resulted in proposed audit adjustments. Cause: Because these errors were not detected prior to the information being provided for audit, there is an indication that the closing procedures, specifically the monitoring and review of financial information by management, is not being effectively performed. This will ultimately cause significant errors in the financial records and financial statements as well as allow possible irregularities, including fraud, to possibly exist without notice. Effect: The Authority did not submit the federal single audit for the year ended December 31, 2022, within the established deadline of September 30, 2023.

Categories

Subrecipient Monitoring

Other Findings in this Audit

  • 508181 2022-003
    Significant Deficiency Repeat
  • 508182 2022-003
    Significant Deficiency Repeat
  • 508184 2022-003
    Significant Deficiency Repeat
  • 1084623 2022-003
    Significant Deficiency Repeat
  • 1084624 2022-003
    Significant Deficiency Repeat
  • 1084625 2022-003
    Significant Deficiency Repeat
  • 1084626 2022-003
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
21.023 Emergency Rental Assistance Program $400,000
14.218 Community Development Block Grants/entitlement Grants $117,134
14.239 Home Investment Partnerships Program $34,573