Finding Text
Criteria: The compliance supplement used during single audit testing specifies the timely payment of all real estate and applicable personal property taxes in order to be in compliance with Uniform Guidance standards. Condition/Context: The Authority failed to timely submit payments in lieu of taxes to Williams County. This payment may be paid in full by February 15th, or installment payments may be made by March 1st, and October 15th. Cause: The finance officer at Minot Housing prepared an estimated calculation of PILOT at year end however failed to submit the payment by the applicable deadline. Effect: There are no effects to the financial statements as the taxes were properly accrued at 12/31/2022 and were simply not paid by the 2/15/2023 deadline. The Authority does not meet all of the requirements set forth by the compliance supplement in accordance with the Uniform Guidance. Recommendation: We recommend that management keeps track of all necessary tax related payments and deadlines to ensure timely payments.