Finding Text
2022 ? 001: Timely Financial Reporting and SF-SAC Submission Criteria: Filing of the SF-SAC Submission timely represents a functioning financial system. Condition and Context: Complete financial results were not available on a timely basis to begin the audit prior to the due date of the SF-SAC. Effect: Complete and accurate financial results were not available on a timely basis to begin the audit prior to the due date of the SF-SAC. Recommendation: Procedures need to be developed for the following: ? Management should implement procedures to complete and reconcile all financial information within a reasonable time after year end. ? Management should implement a system to track the due date of the SF-SAC to ensure timely filing.