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<br />SECTION 11I- FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS (Continued) <br /> <br />Sianlficant Deficiencv and Material Noncompliance (Continued) <br /> <br />Reporting requirements <br /> <br />In accordance with the Federal Single Audit Act, the Town is required to submit a reporting package that <br />includes audited financial statements, a schedule of expenditures of federal awards including notes to <br />that schedule, a summary schedule of prior audit findings, a schedule of findings and questioned costs, <br />the auditor's reports, and a corrective action plan within nine months after the end of the audit period; tha.t <br />date was June 30, 2009. The Town has not met this requirement for the audit period ended September <br />30, 2008 and is at risk of losing current federal grant funds and the potential to lose future federal grant <br />funds. This is a repeat finding from the fiscal years ended September 3D, 2007 and 2006. <br /> <br />Recommendation <br /> <br /> <br />reporting packages. If the <br />e own should request, in <br /> <br />110 <br />