Observations
Based on an interview with the project director, the project failed to document the completion of an annual audit of financial activities by the end of the the project's fiscal year, as required by regulation.
The findings include:
A review of administrative documentation on October 26, 2010 failed to contain a financial audit for the fiscal year.
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Plan of Correction
The Project Director will request an exception from the identified deficiency. The request was mailed to the Director on 11/5/10. The Project is owned by a sole proprietor and has no employees. The Project is small in size and this will cause financial hardship. All financial information is made available to the Public in the Annual Notice. All financial information is also kept on file and may be accessed at any time. Should an exception not be approved, the Project will take the necessary steps to obtain the required audit. |