Finding 2022-01: Reporting Requirements Name of contact person: Nedra Jones, CFO Recommendation: We recommend the Foundation develop and implement adequate control policies and procedures to ensure accurate and timely subaward information is reported to the FSRS as required by FFATA. Corrective Action: During the 2021-2022 fiscal year, the Foundation acknowledges that subaward information was not reported timely, as stipulated by FFATA. Pursuant to FFATA requirements, the Foundation has now implemented a policy and procedures to ensure accurate and timely submissions. Note that all monitoring to ensure that expenditures made by subrecipients were allowable under the applicable awards and regulatory guidance was, and continues to be, handled by the Foundation. Effective March 2023, the Foundation will submit data, as required, within 30 days after an award is received and subawards are subsequently made. All subaward data submissions are and will continue to be reviewed and subsequently approved by multiple staff, across our Legal, Finance, and Internal Operations departments. To ensure compliance with the FFATA reporting requirement, once an award is approved and subaward agreements, over the threshold of $30,000, are executed, the Foundation will employ a collaborative approach wherein the Grants Coordinator (Federal Grants and Compliance) will confer with the Federal Finance Manager (Finance) to review subaward data requirements. Once the list of sub awards to be reported is identified and approved, the reports will be submitted into FSRS. A copy of the completed data for that period, will be uploaded into the Foundation?s CRM, Salesforce, where this data will be housed under the applicable record. Proposed Completion Date: March 2023 and ongoing.