Finding Text
Finding 2021-005 Late Issuance of the 2021 Single Audit Reporting Package Federal Programs All assistance living numbers (ALN’s) included on the schedule of expenditures of federal awards for the year ended December 31, 2021. Condition and Context Followed by Criteria The Authority’s submission of the 2021 single audit report package was formally due to the Federal Audit Clearinghouse by September 30, 2022, but was not submit by the due date. Under the Uniform Grant Guidance, Section 200.512, Report Submission, the audit must be completed and the data collection form must be submitted within the earlier of 30 calendar days of the auditor’s report or nine months after the end of the audit period. Questioned Costs None noted. Cause The audit of the Authority’s financial statements as of December 31, 2021 was not completed until January 2024 for multiple reasons, including multiple restatements and other audit adjustments identified by management and auditors, which delayed the timeliness of the auditors in completing and finalizing audit procedures and reviews. Effect The Federal reporting package was not received timely by the Federal Audit Clearinghouse which could impact granting agencies. Recommendation We recommend that the Authority ensure timely filing of the single audit reporting package with the Federal Audit Clearinghouse. Views of Responsible Officials The Authority accepts the finding, please refer to the Corrective Action Plan for more information.