Finding 977800 (2021-003)

Condition The Institute did not submit the Data Collection Form and Reporting Package to the Federal Audit Clearinghouse of fiscal year ending June 30, 2021, during the required period. Criteria 2 CFR § 200.512 Report Submission, (a) (1) The audit must be completed, and the data collection form described in paragraph (b) of this section and reporting package described in paragraph (c) of this section must be submitted within the earlier of 30 calendar days after receipt of the auditor’s report(s), or nine months after the end of the audit period. Context The Institute was unable to provide timely the financial statements and related supporting documentation in order to apply required audit procedures. Cause Management did not have adequate procedures in place to ensure the timely filing of the single audit reporting package and data collection form to the Federal Audit Clearinghouse. Effect The Institute did not comply with the submission date required for the Data Collection Form and Reporting Package, this could affect the continuance and new approvals of federal funds. In addition, for the next two (2) fiscal years the Institute cannot be considered by the auditor as a low-risk auditee. Questioned Costs None. Recommendation We recommend the Institute to maintain adequate accounting records related to the nonfederal and federal funds in order to properly prepare the financial statements accurate and in a timely manner.