Finding 51722 (2022-001)

Finding 2022-1 Statement of Condition: The annual reporting package for the year ended December 31, 2021 has not been submitted to the Federal Audit Clearinghouse within the required timeframe. Criteria: Uniform Guidance and Federal Clearinghouse requirements require that non-federal entities transmit their annual reporting package to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditor?s report or nine months after the end of the audit period. Effect or Potential Effect: Noncompliance with Uniform Guidance and Federal Clearinghouse requirements. Cause: Procedures in place were not adequate to ensure the timely submission of the reporting package. Recommendation: Annual reporting packages should be submitted to the Federal Audit Clearinghouse no later than September 30th of the subsequent year. Reporting Views of Responsible Official: We concur with Finding 2022-1. The Corporation will submit the late filing as soon as possible. Status: Open