Audit finds missing paperwork with Florida entities that receive taxpayer funds



(The Center Square) — According to a recent report, some entities that receive taxpayer funds aren’t filing their financial reports as Florida law requires.

The Florida Auditor General’s Office reviewed nonprofit, for-profit, and other entities’ financial reporting packages and found that more than 14% aren’t being filed or submitted late or with missing reports.

According to the Florida Single Audit Act, any entity that receives state financial assistance of at least $750,000 must provide information for an audit.

Once the audit is completed, a financial reporting package must be filed to state awarding agencies and the auditor general within 45 days and no later than nine months after the end of the entity’s fiscal year.

The financial package must include audited financial statements, a schedule of expenditures of state assistance, an independent auditor’s report and a management letter.

The audit found that of the 217 entities required to file with the state, 31 did not comply with one or more of the filing requirements. Eighteen of the 31 entities filed their financial reporting packages after nine months had elapsed past the end of the entity’s fiscal year.

A sample size of 60 financial packages was used to perform completeness reviews. While most had included the required documents, it was found that 12 of the audit packages had not included a management letter, while eight packets did not include the threshold for distinguishing state projects or did not calculate the thresholds under Department of Financial Services rules.

Auditors for eight of the 60 reporting packages failed to include a summary schedule for prior audit findings, a rule required by the auditor general. Another seven auditors failed to include dates when the reporting package was delivered.

The audit also uncovered that two of those 60 reporting packages were performed by audit firms that did not hold an active or temporary license issued by the Florida Board of Accountancy. State law and auditor general rules stipulate that only a certified public accountant can perform an audit.

The auditor general recommended that audited entities should ensure audits are conducted in a timely manner and filed under state law. The auditor general also recommended that all required documents be included, and before contracting for audits, entities should verify that an audit firm holds the applicable license.



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