FAC Explorer

Finding 559782 (2023-002)

Significant Deficiency Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2025-05-07
Audit: 355753
Organization: Portland Community Reinvestment Initiatives, Inc. (OR)
Auditor: Cerini & Associates

AI Summary

  • Issue: PCRI missed the deadline to submit its Single Audit reporting package to the Federal Audit Clearinghouse.
  • Requirements Impacted: This failure violates CFR §200.512, affecting compliance for all federal programs.
  • Follow-Up: Management should establish procedures to ensure timely reporting in line with CFR §200.512 deadlines.

Finding Text

Criteria: In accordance with the requirements of CFR §200.512, the audit shall be completed and the data collection form and reporting package shall be submitted to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditors’ report, or nine months after the end of the audit period. Condition: PCRI did not electronically submit its December 31, 2023 Single Audit reporting package to the Federal Audit Clearinghouse within the required time period. Cause: PCRI’s 2023 accounting records were not formally closed in a timely manner. Effect: PCRI did not comply with CFR §200.512. The late submission results in non-compliance for all federal programs. Recommendation: We recommend that management implement procedures to ensure that all required reporting is submitted in a timely manner and in accordance with CFR §200.512 deadlines.

Corrective Action Plan

The delay in submission of the December 31, 2023 Single Audit reporting package to the Federal Audit Clearinghouse by the due date is a direct result of the delays in completion of the December 31, 2023 audit which were caused by the deficiencies outlined in Finding 2023-001. Management believes that the outsourcing of critical accounting functions will help ensure that PCRI’s records are reconciled in a timely manner which will allow for the Single Audit to be submitted by the due date going forward. The timeline for full transition of relevant accounting processes to the outsourced accounting firm which started in January of 2025 is approximately seven months due to the complexities of PCRI’s operations. PCRI anticipates this transition being complete in July of 2025.

Categories

Reporting

Other Findings in this Audit

  • 559783 2023-003
    Significant Deficiency Repeat
  • 559784 2023-002
    Significant Deficiency Repeat
  • 559785 2023-003
    Significant Deficiency Repeat
  • 1136224 2023-002
    Significant Deficiency Repeat
  • 1136225 2023-003
    Significant Deficiency Repeat
  • 1136226 2023-002
    Significant Deficiency Repeat
  • 1136227 2023-003
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 Home Investment Partnerships Program $1.38M
14.218 Community Development Block Grants/entitlement Grants $1.26M
21.027 Coronavirus State and Local Fiscal Recovery Funds $713,377
21.026 Homeowner Assistance Fund $26,965