Finding Text
Criteria: Financial Data Schedule (FDS) submission for unaudited financials are due within 2 months after the fiscal year end (24 CFR section 5.801).Condition: Management missed deadline for its unaudited submissions. Context: Upon review of the unaudited FDS submission, we noted that the date of the submission was passed the due date. Cause: Management did not make sure unaudited FDS submission was completed within the 60 day window. Effect: The Authority is not in compliance with HUD reporting requirements. Recommendations: The Authority should improve its internal controls over financial reporting by submitting its financial data on a timely basis. Management Views: We agree with this finding and have outlined our plan of action in our corrective action plan.