Finding 974622 (2023-001)

Compliance Findings Finding 2023-01 Noncompliance with Federal Reporting Requirements Assistance Listing Numbers 59.075 Shuttered Venue Operators Grant Program Federal Agency U.S. Small Business Administration Passthrough Agency Not applicable Award Number/Year 2023 Criteria The Festival has grant agreements from several federal agencies with terms requiring compliance with financial reporting requirements in accordance with Uniform Guidance. As such, for the year ended February 28, 2023, the Festival is required to submit audited financial statements, a schedule of expenditures of federal awards (SEFA) and single audit reports to the Federal Audit Clearinghouse. The due date for submission of the audit package to the Federal Audit Clearinghouse is nine (9) months after the Festival’s fiscal year-end. Condition The Festival did not submit its audited financial statements and SEFA to the Federal Audit Clearinghouse within nine (9) months after February 28, 2023. Cause This condition was due to the Festival experiencing turnover of its Director of Finance position resulting in the oversight of the due date for the single audit for fiscal year 2023. Effect The effect is noncompliance with financial reporting deadlines could cause funding sources for the Festival to suspend funding until compliance is achieved.