Finding Text
Late Submission
Funding Agency: U.S. Department of Education
Title: Higher Education Emergency Relief Fund, Student Financial Aid Cluster
AL Number: 84.425E, 84.425N, 84.007, 84.268, 84.033, 84.063
Criteria or Specific Requirement: 2 CFR section 200.512(a) requires the reporting package and data collection form be submitted to the Federal Audit Clearinghouse the earlier of 30 calendar days after the reports are received from auditors or nine months after the end of the audit period.
Condition: The fiscal year audit reporting package is being submitted after the required due date.
Context: We reviewed the audit submission date in comparison to the required due date..
Questioned Costs: To be determined by grantor.
Effect: There is potential for suspension or cessation of federal funding.
Cause: The Covid-19 pandemic and turnover at the College caused a delay in the audit and as such the required deadline was not met.
Repeat Finding: No.
Recommendation: The College should take steps to endure that its financial records are maintained on a current basis, reconciled timely, and audited within nine months after year end.