Finding Text
FINDING 2022-002: LATE AUDIT FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION
PROGRAM NAME: FEDERAL DIRECT LOAN PROGRAM
ALN#: 84.268
YEAR ENDED: DECEMBER 31, 2022 Compliance Requirement: Administrative Capability. Criteria: A non-Federal entity shall transmit the reporting package, in an electronic form in accordance with the data standards established under chapter 64 and which shall include the non-Federal entity's financial statements, schedule of expenditures of Federal awards, corrective action plan defined under subsection (i), and auditor's reports developed pursuant to this section, to a Federal clearinghouse designated by the Director, and make it available for public inspection within 9 months after the end of the period audited, or within a longer timeframe authorized by the Federal agency, determined under criteria issued under section 7504, when the 9-month timeframe would place an undue burden on the non-Federal entity (31 U.S. Code 7502(h)(2)(B)) . Condition: The Institution will be submitting its 2022 Single Audit late. Cause: The condition was caused by the Institution not providing audit support information in a timely manner. Effect: The result is the Institution may not have been incompliance with regulations, thus affecting its ability to effectively monitor operations. Question Costs: $0 Recommendation: We recommend that the Institution submit this audit report upon receipt from the auditors and await instruction from the Department of Education. Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.