Finding Text
Condition
We observed two of the quarterly reports submitted into fiscal year ended June 30, 2024.
Those were submitted late; after the fifteen calendar days required.
Criteria
The contract with the pass-through Agency and the Municipality of Florida establishes
requisites for financial reports. The funds petition must be prepared in advance during the
first fifteen calendar days of the quarter. The report must contain the report of the
accumulated expenses of the prior quarter, the list of the obligations, the payroll reports of
the months reported and the bank conciliation into others. The information must be
collected with the frequency required by the terms and conditions of the Federal award,
but no less frequently than annually nor more frequently than quarterly except in unusual
circumstances, for example where more frequent reporting is necessary for the effective
monitoring of the Federal award or could significantly affect program outcomes, and
preferably in coordination with performance reporting.
Context
We request the report submitted during the fiscal year to be audited and observed the
report was submitted after the due date.
Cause
The Municipality failed to submit the required reports on time due to a lack of information
on procedures for the completion of the report.
Effect
The Municipality cannot comply with financial report regulations; the evaluation of the
federal funds use cannot be observed and monitored by the Agency. The situation could
affect the program outcomes.
Questioned Costs
Not determined
Recommendation
We recommend the Municipality maintain the schedule of the due date of financial reports
and maintain financial data on time in order to complete the reports into the period
required.