Section B Financial Statement Findings (continued) Significant Deficiencies- 2022-002 Timely Financial Reporting and SF-SAC Submission Plan: Bridges has policies in place in the Finance Manual that state the year end books are to be closed no later than 90 days after the end of the fiscal year (June 30th). This policy was not followed by the Finance Manager in FY 2022. Goldin Group CPA Firm will ensure that this policy is followed for FY2023, and complete and accurate financial results are available in order to begin the audit with enough time for it to be complete prior to the due date of the SF-SAC Bridges will be diligent to track the due date of the SF-SAC to ensure timely filing going forward. Accountable Owner: Jennifer Broderick, Executive Director Target Completion Date: September 30, 2023 Action Start Date: March 1, 2023 Progress: Bridges replaced staff with more trained & skilled CPA firm in March 2023. Financial team is working to close the FY2023 by September 30, 2023. Bridges to Housing Stability will not be subject to a Single Audit for FY2023 and will not need to submit a reporting package to the Federal Audit Clearinghouse for the year. If Bridges to Housing Stability must report in future years, the deadline for filing the reporting package will be tracked and all materials completed and submitted before the deadline. Section C- Federal Award Findings and Questioned Costs Significant Deficiencies 2022-002: Timely Financial Reporting and SF-SAC Submission Program CFDA 21.023 Plan: Bridges has policies in place in the Finance Manual that state the year end books are to be closed no later than 90 days after the end of the fiscal year (June 30th). This policy was not followed by the Finance Manager in FY 2022. Goldin Group CPA Firm will ensure that this policy is followed for FY2023, and complete and accurate financial results are available in order to begin the audit with enough time for it to be complete prior to the due date of the SF-SAC The CFDA 21.023 was new to Bridges to Housing Stability, and there were issues with the reporting platform used by Bridges to Report rental Assistance to funder (Howard County DHCD). The technical issues were not solved until late in FY2023, causing delays in completion of the SEFA and filing of the SF-SAC. Bridges will be diligent to track the due date of the SF-SAC to ensure timely filing going forward. Accountable Owner: Jennifer Broderick, Executive Director Target Completion Date: September 30, 2023 Action Start Date: March 1, 2023 Progress: Bridges replaced staff with more trained & skilled CPA firm in March 2023. Financial team is working to close the FY2023 by September 30, 2023. Bridges to Housing Stability will not be subject to a Single Audit for FY2023 and will not need to submit a reporting package to the Federal Audit Clearinghouse for the year. If Bridges to Housing Stability must report in future years, the deadline for filing the reporting package will be tracked and all materials completed and submitted before the deadline.