Finding 560585 (2022-001)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2025-05-16
Audit: 356503
Organization: Town of Hammond (NY)

AI Summary

  • Core Issue: The Town missed the deadline for submitting its single audit and financial statements by September 30, 2023.
  • Impacted Requirements: According to 2 CFR 200.512(a)(1), audits must be submitted within 9 months of the fiscal year end or 30 days after receiving the auditor's report.
  • Recommended Follow-Up: Investigate the factors causing the delay and implement measures to ensure timely submission in the future.

Finding Text

Condition: The Town met the requirements for a Single Audit and is required to submit its annual audited financial statements and single audit reporting requirements within 9 months of the Town's fiscal year end. The Town did not complete and submit its single audit by September 30, 2023. Criteria: The requirement in 2 CFR 200.512(a)(1) states that single audits are due to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditor’s report or 9 months from the Town's fiscal year end. This reporting package, is required to be submitted electronically and includes the financial statements and a supplementary schedule of expenditures of federal awards, auditor’s reports, a summary schedule of prior audit findings and a corrective action plan, if necessary. Cause: The delay in the timely submission of the audited financial statements and single audit reporting requirements was primarily due to a combination of factors impacting the ability to complete the necessary procedures within the required timeframe.

Corrective Action Plan

The auditor recommends that the Town ensure compliance with the 9 month requirements and have the audits and single audit reporting package submitted by the end of September each year. The Town plans on submitting all the outstanding years of audits upon completion of its December 31, 2023 audit, with submission to the FAC by May 15, 2025.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
10.766 Community Facilities Loans and Grants $900,000