Finding Text
Community Facilities Loans and Grants Cluster; Federal Assistance Listing No. 10.766; U.S. Department of Agriculture Criteria or specific requirement ? Reporting Condition: The Corporation is required to submit annual audited financial statements to the U.S. Department of Agriculture 150 days subsequent to year-end. The audited financial statements as of and for the year ended September 30, 2021, were due to the U.S. Department of Agriculture by February 27, 2022, and were not submitted until November 2022. Questioned costs: None Context: In testing the timely submission of the audited financial statements, the Corporation was unable to locate or provide support showing that the audited financial statements were submitted to the U.S. Department of Agriculture. Effect: Audited financial statements were not timely submitted. Cause: The Corporation was unable to produce support for timely submitted audited financial statements. Identification as a repeat finding, if applicable: Not applicable Recommendation: We recommend management develop a procedure to ensure that the audited financial statements are timely submitted to the U.S. Department of Agriculture. Views of responsible officials and planned corrective actions: Management agrees with the recommendation. The Corporation will create calendar appointments prior to required deadline for submission of the audited financial statements for the responsible personnel including the chief financial officer.