Finding Text
FINDING 2022-005 ? Reporting Requirements ? Smith-Lever; Significant Deficiency in Internal Control over Compliance U.S. Department of Agriculture, Smith-Lever Funding Assistance Listing Numbers: 10.511 Federal Program Name: Smith-Lever (Various Programs) Award Year: 2021-22 Criteria: In accordance with grant requirements, a filing of the SF-425 is required on an annual basis with a due date of December 30th. Condition and context: The annual report was submitted on April 18, 2022, which was past the due date of December 30, 2021. Questioned costs: None Effect: The College is not in compliance with reporting requirements of the grant. Cause: With a delay in the financial close and reporting cycle, there was a delay in filing the report. Repeat finding: No Recommendation: We recommend the College implement controls to ensure timely submission of annual report. Views of responsible officials and planned corrective actions: Controls are in place for the Finance Division to ensure the timely submission of required financial reports for grant programs. The Finance Division will review and strengthen its processes and controls to ensure that the reconciliations of account balances are done on a timely basis to make sure that the expenses reported in the annual reports are accurate. A timeline of required reports will be provided by the Finance Officer to the Assistant Finance Officer and Accountants to follow and ensure that reports are submitted in a timely manner. Anticipated completion of the corrective action is expected by September 2023.