ONE OAKLAKE VII, LLC

Finding reference number: 25-1 Finding resolution status: Unresolved Information on universe and population size N/A Sample size information N/A Noncompliance information The auditee did not submit the Single Audit reporting package and data collection form to the Federal Audit Clearinghouse within the required timeframe. Statement of condition Prior year’s audit was not certified with the Federal Audit Clearing House (FAC) by the required due date. Criteria Uniform Guidance 2 CFR §200.512(a) requires the auditee to submit the Single Audit reporting package, including the data collection form (SF-SAC), to the FAC 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. Effect or potential effect The auditee was not in compliance with Uniform Guidance reporting requirements. Late submission may delay HUD’s and other federal agencies’ ability to perform timely oversight and monitoring of federal awards. Cause Management entered the required information into the FAC system; however, due to a lapse in the final review and submission process, the certification was not completed by the required deadline. Recommendation We recommend that the auditee implement procedures to monitor reporting deadlines and ensure timely submission of the Single Audit reporting package to the FAC. Auditor noncompliance code: L – Reporting Amount of questioned costs: $0

Prior Year's audits have not been certified with the FAC