Finding Text
Finding reference number: #2023-002
Assistance Listing title and number (federal award identification number and year): Housing Finance Agencies (HFA) Risk Sharing No. 14.188 (101-98145 and 2015)
Auditor non-compliance code: Z - Other
Finding resolution status: In Process
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition #2023-002: The Corporation did not furnish Form SF-SAC Single Audit Data Collection Form for the years ended October 31, 2023 was not submitted to the federal audit clearinghouse in the required timeframe.
Criteria: Pursuant to Uniform Guidance, the Corporation is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 days after the receipt of the auditor's report or nine months after the end of the audit period.
Effect or potential effect: The Corporation was not in compliance with Uniform Guidance.
Cause: The Corporation was late to provide the CPA firm (Dauby, O'Connor, & Zaleski, LLC) with open items required to complete the audited financial statements.
Recommendation: The Corporation should submit the annual financial statements to Form SF-SAC Single Audit Data Collection Form for the year ended October 31, 2023 as soon as practical.
Completion date: In Process
Management response: Management concurs with the finding and recommendation. The audited financial statements will be submitted to the federal audit clearinghouse.