Finding Text
2021-001 Late Single Audit Submission
Condition: The Development Commission’s audit was not completed and the data collection form and reporting package were not submitted within nine months after the end of the audit period.
Criteria: Section 200.512 Report Submission of the Office of Management and Budget’s Uniform Guidance states, “The audit must be completed and the data collection form described in paragraph (b) of this section and reporting package described in paragraph (c) of this section must be submitted within the earlier of 30 calendar days after receipt of the auditor’s report(s), or nine months after the end of the audit period. If the due date falls on a Saturday, Sunday, or Federal holiday, the reporting package is due the next business day.”
Cause: The Development Commission's financial statements were not completed in time for a timely submission. This was due in large part to turnover in the Finance Manager's position that took place during the time period that the audit was being conducted.
Effect: The Development Commission is not in compliance with provisions of the OMB’s Uniform Guidance.
Recommendation: Obtain the services of a new Finance Manager who will coordinate the close out of the year end financials with the fee accountant so the books are closed prior to the start of the FY2023 audit.
Views of Responsible Officials and Planned Corrective Actions: See corrective action plan.
Total Question Costs (U.S. Dept of Treasury) $0
Total Current Year Question Costs: $0