Finding Text
Criteria and Condition: Awardees must submit a quarterly Federal Financial Report Cash Transaction Report (“SF-425”) via the Payment Management System (“PMS”) within 30 days of the end of each calendar quarter. There is not sufficient evidence to verify that quarterly SF-425 reports were filed within 30 days of the end of each calendar quarter for the year ended June 30, 2022.
Context: The Center was not able to provide copies of a timely filed quarterly SF-425 for any quarter for the year ended June 30, 2022.
Effect: It appears that there were no quarterly SF-425 forms reporting cash draws and expenditures completed and submitted to PMS in a timely manner.
Questioned Costs: None
Cause: Internal controls over reporting and compliance were not effective at ensuring that the required reports were being accurately completed in a timely manner.
Recommendations: We recommend that management improve their reporting processes and controls to ensure all SF-425 reports are submitted timely and accurately to PMS.
Views of Responsible Officials and Planned Corrective Actions: Management is taking steps to improve the internal controls over the completion and submission of SF-425 reports to ensure that reporting can be completed in an accurate and timely manner. These changes include updates to internal processes and the hiring of key members of financial management.