BOISE BIBLE COLLEGE, INC.

Criteria: 2 CFR Section 200.512 (a)(1) states that Boise Bible College, Inc.?s single audit must be completed and the data collection form must be submitted nine months after the end of the audit period. Condition: The Organization did not complete and submit its single audit within nine months after the end of the audit period. Cause: The Organization does not have a proper internal control structure in place to complete its single audit requirement in a timely manner. Effect: Users of the financial statements do not have timely access to the Organization?s financial information. Questioned Costs: None. Recommendation: Management should develop a review process to ensure that the financial information is recorded appropriately in accordance with generally accepted accounting principles, is properly reconciled and recorded at year-end in a timely manner, and audits are completed in a timely manner in accordance with 2 CFR Section 200.512. Views of Responsible Officials: Management will work to develop the proper procedures to ensure that balances are appropriately reconciled at year-end and recorded in accordance with generally accepted accounting principles, so the reporting requirements in 2 CFR Section 200.512 are met.

Corrective Action Plan: In response to the finding labeled 2022-002, the College has begun to improve improved its processes to close year-end books in a timely manner and produce financial statements in a manner that accommodates a single audit filing within published timeframes. The College has also found an individual with appropriate financial reporting skills, knowledge, and experience to sit on the board of directors. The remediation of this finding should be completed before March 30, 2024, the College?s 2023 audit period single audit submission deadline