Finding Text
2024-005 – Late Audit Report
Federal program information:
Funding agency: All
Title: All
Assistance listing number: All
Award year: Various
Criteria: According to 2 CFR Part 200.512, the annual single audit must be completed and the
data collection form and reporting package must be submitted within the earlier of 30 calendar
days after receipt of the auditor's report or nine months after the end of the audit period (March
31, 2025).
Condition: SFRC’s fiscal year 2024 single audit reporting package was not submitted by the due
date of March 31, 2025.
Context: N/A
Questioned Costs: None
Cause: There was significant turnover in the accounting department at SFRC during fiscal year
2024. Additionally, the audit was finalized and the data collection form and reporting package
were ready to be submitted by the deadline, but SFRC was not able to certify and submit the
information by the deadline.
Effect: The data collection form and reporting package was not submitted by the reporting
deadline.
Auditor’s Recommendation: SFRC should implement the provisions from its Accounting &
Financial Management Policies and Procedures Manual so that monthly and annual account
reconciliations are performed timely to ensure that the data collection form and reporting
package are submitted by the due date.
Management’s Response: Management has implemented correction of this finding, after
education as to deadlines for submission of the completed audit report.