Finding Text
CRITERIA: 2 CFR 200.512, the Uniform Guidance requires that a single audit
be completed and the data collection form as well as the reporting
package be submitted to the Federal Clearing House within the
earlier of 30 calendar days after receipt of the auditor's report(s ), or
nine months after the end of the audit period. If the due date falls on
a Saturday, Sunday, or a Federal holiday, the reporting package is
due the next business day.
CONDITION: We noted during our audit that TCA's 2023 fiscal year Uniform
Guidance required audit and reporting package was not submitted to
the Federal Clearing House within nine (9) months of TCA's
December 31, 2023 fiscal year end.
CAUSE: TCA's books and records were not closed and audit-ready on a
timely basis. Also, TCA did not engage its independent auditor on a
timely basis.
EFFECT: Late audit submission represents noncompliance with 2 CFR
200.512, the Uniform Guidance and could adversely affect current
and future grant awards.
QUESTIONED COSTS: None
RECOMMENDATION: TCA should implement policies and procedures to ensure timely
preparation of audit-ready financial statements. Also, the
independent auditor should be engaged on a timely basis. MANAGEMENT
RESPONSE: TCA recognizes that inability to complete the audit timely creates
noncompliance with the Uniform Guidance. However, post
pandemic, TCA has been caught in the cycle of late audits and due
to auditor challenges, a myriad of fiscal staffing challenges. The
Agency implemented several corrective actions to ensure the cycle
of late audits is disrupted, and has outlined additional strategies to
support timely audit compliance for the 2024 fiscal year end and
thereafter.
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