Finding Text
Criteria: In accordance with 45 CFR Part 75, Subpart F, nonprofit organizations that expend $750,000 or more in federal awards in a fiscal year must have a single audit conducted and submit the related audit reports to the Federal Audit Clearinghouse (FAC) within 30 days after receipt of the auditor’s report or 9 months after the end of the audit period. Condition: We noted that the single audit for the fiscal year ended June 30, 2023 was submitted to the Federal Audit Clearinghouse beyond the 30 days or 9 month deadline. Cause: Delays in and insufficient training and transfer of duties related to the single audit process during employment transition from prior Director of Finance to the current Finance Manager.
Effect: The organization’s single audit status was not timely reported to FAC and made publicly available.
Recommendation: We recommend the FAC submission for each fiscal year be processed within a week of the receipt of the auditor’s report.
Organization’s Response: The organization will process the submission for the year ended June 30, 2024 prior to March 2, 2025 and meet the deadline of submission within 30 days from receipt of the auditor’s report. The Finance Manager and Executive Director will review the calendar each year to remain in compliance.