Finding 553802 (2021-002)

Criteria: 2 CFR requires a non-federal entity that expends $750,000 or more in federal awards during its fiscal year must undergo an audit in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and submit their audited annual financial reports and the data collection form to the Federal Audit Clearinghouse within thirty (30) days after receipt of the auditors’ report, or nine (9) months of the close of the auditee's fiscal year. Condition: NAMC did not undergo the annual audit requirement in accordance with the Uniform Guidance and submit the annual audited financial statements and the data collection form to the Federal Audit Clearinghouse within 9 months after year-end as required by the Uniform Guidance. Cause: Due to turnover in key finance positions, NAMC did not undergo the required audit. Effect: NAMC is not in compliance with applicable federal regulations. Questioned Costs: None Auditors’ Recommendation: NAMC should implement policies and procedures to ensure compliance with all audit requirements and timely filing of required reports. Views of Responsible Officials: NAMC has appropriately staffed the open finance department roles and completed its 2021 audit and reporting requirements as of December 2024.