Finding 2024-002
significant deficiency
- Program
- EDUCATION STABILIZATION FUND (84.425)
- Compliance requirement
- Reporting
- FAC record
- FY2024 audit on fac.gov
Finding text from the filing
Criteria:
In accordance with 2 U.S. Code of Federal Regulations (CFR) 200.512, the District is required to submit its single audit reporting package and data collection form to the Federal Audit Clearinghouse (FAC) no later than 30 days after the date of its audited financial statements or nine months after the fiscal year end, whichever occurs earlier.
Condition:
The audited financial statements for the periods ended August 31, 2022 and 2023 were not submitted to the Federal Audit Clearinghouse (FAC) system.
Cause:
The District did not have adequate policies and procedures to ensure compliance of timely filing of the single audit reporting package to the Federal Audit Clearinghouse (FAC) by the required deadlines.
Effect:
The District is non-compliant with timely submission under 2 U.S. Code of Federal Regulations (CFR) 200.512. This could result in a loss of future federal funding.
Auditor’s Recommendation:
We recommend the District review policies and procedures to ensure all submissions as required by 2 U.S. Code of Federal Regulations (CFR) 200.512 are submitted timely.
Management's Response:
District management will review their grant management policies and procedures to ensure that they are in compliance with all reporting requirements.