Finding Text
Condition: The fiscal year ended September 30, 2022 federal data collection form was not submitted within the required timeframe. Criteria: Audited compliance package and completion of the federal single audit is required to be submitted timely to the Federal Audit Clearinghouse (the FAC). The package must be electronically submitted through the FAC website within the earlier of 30 days after receipt of the auditors' report or nine months after the end of the audit period. Cause: The audit for the year ended September 30, 2023 disclosed current year (2022) expenditures that should have been included on the current year schedule of expenditures of federal awards and state financial assistance, which, when combined with current year federal expenditures properly reported brought the total of federal expenditures over the federal single audit threshold. Effect: The Port Authority can be found to be out of compliance by individual granting agencies. As a result, the federal awarding agency could potentially withhold funds until the deficiency is remedied, completely suspend or terminate the award, or withhold further awards for the program. Recommendation: We recommend that the Port Authority remedy remaining audit findings reported during the course of the audit and timely prepare expenditure reports and support for purposes of being subject to a single audit. Views of Responsible Officials and Planned Corrective Actions: The Port Authority agrees with the auditors' recommendations. See attached, Management's Corrective Action Plan