Finding Text
Federal Program: 21.027-Coronavirus State and Local Fiscal Recovery Funds. Passed Through: City of Chicago Department of Planning and Development and City of Chicago. Department of Business Affairs and Consumer Protection. Federal Agency: U.S. Department of Treasury. Criteria: The Organization participates in federal grant agreements through certain agencies that have reporting requirements in accordance with 2 CFR Part 200 (the Uniform Guidance). As such, for the year ended. December 31, 2022, the Organization was required to submit audited financial statements, Single Audit reports, and a data collection form (DCF) to the Federal Audit Clearinghouse (FAC). The abovementioned reports are due to the applicable agency at the earlier of (a) nine months after fiscal year end or (b) 30 days after receipt of final audit reports. Condition: During our testing, we noted that the Organization did not submit documents to the F AC by the required due date the required fiscal year 2022. Questioned Costs: None noted. Context:The fiscal year 2022 audit was not completed prior to the F AC deadline, leading to late submission. Effect:The Organization is not in compliance with the Uniform Guidance reporting requirements. Cause: The condition arose due to several factors including turnover of the Organization's accounting staff, leading to delays in completing the 2022 audit. Recommendation: The Organization should ensure that the Single Audit reporting package is submitted to the F AC within the required timeframe. Management Response: Management concurs with this finding. See corrective action plan.