Finding Text
Criteria:
Monthly financial reporting information should be shared with the Board of Directors in a timely manner.
Condition:
Monthly financial reports were not provided to the Board for the period of April to June 2022.
Cause:
The delay in the financial reports to the Board was due to turnover in key management positions, including within the accounting department.
Effect:
During this period, internal financial information was not reviewed or approved by the Board timely.
Questioned Cost Amount:
None noted.
Perspective Information:
Three out of twelve months of financial reports were not provided to the Board during the fiscal year ended June 30, 2022 or soon thereafter.
Repeat Finding:
This is not a repeat finding.
Recommendation:
We recommend that the Agency implement controls to ensure that financial reports are provided to the Board in a timely manner.
Views of Responsible Officials and Planned Corrective Action:
The Agency agrees with this finding. See auditee’s corrective action plan.