Finding Text
Audit Finding Reference Number
2023 – 010 – Late Submission of Audit Report
Federal Program and Specific Federal Award Identification
CFDA Title and Number
84.007 Federal Supplemental Educational Opportunity Grants (SEOG)
84.033 Federal Work-Study Program (FWS)
84.063 Federal PELL Grant Program (PELL)
84.268 Federal Direct Student Loans (Direct)
84.425E Education Stabilization Fund – Student Aid
84.425F Education Stabilization Fund – Institutional Aid
84.425J Education Stabilization Fund – Historic Black Colleges and Universities
Federal Award Number
June 30, 2023
Federal Agencies
U.S. Department of Education
Pass-Through Entity
Not applicable
Criteria
Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), Single audits are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal Holiday, the reporting package is due the next business day.
Conditions and Contexts
The June 30, 2023 audit report was not submitted within the prescribed time frame. Required by federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year.
Cause
Management failed to ensure the audit report was issued within the prescribed time frame.
Questioned Costs
For purposes of this condition, I have no questioned cost.
Effect
ABC. has not complied with the audit requirement of Uniform Guidance 2 CFR Part 200.512(a).
Repeat Finding
Yes. See Schedule of Prior Year Audit Finding 2022-010.
Recommendation
I recommend that the management of ABC take steps to ensure that the Single Audit is submitted within the prescribed deadlines.
Management’s Response
Management concurs with this finding. The College will adhere to its policies, procedures, processes, and federal guidelines as it relates to competing and submitting the audit. The College has a new CFO and Controller. These measures will ensure stability and a timely audit.
Responsible Administrators: Director of Financial Aid & Chief Financial Officer
Effective immediately and ongoing.