QSSBs are required to submit audited financial statements to USB annually. 1. Due Date: Annual financial audit that complies with reporting guidelines to be sent to USB within ninety (90) days of the end of the QSSB’s fiscal year. 2. USB Acknowledgment: USB to acknowledge in writing the receipt of an audit from a QSSB within seven (7) business days after receiving the report. A checklist will be used by USB accounting staff to ensure timely receipt of QSSB financial statements. Please see Appendix C for the checklist. 3. Notification that Audit Format Meets Reporting Guidelines: USB to notify in writing to the QSSB Chairperson on the ninety-first (91) day whether the audit report meets format guidelines within ninety (90) days of receipt letter. If rejected, the USB will identify the specific reason(s) in writing to the QSSB. 4. Extensions: If, for some reason a QSSB cannot meet the deadline, a state can request an extension by writing the USB before the 90-day period expires. Currently, the Western Region is the only exception to the 90-day rule. Extension request should include a compelling reason why the QSSB cannot meet the deadline. Extension request is evaluated by A&E and notification will be sent to the QSSB on USB letterhead over the A&E Chairman’s signature. 5. Audit Exceptions: To the extent practicable, issues will be resolved informally by the USB staff resource and QSSB staff. Issues that cannot be resolved informally will be presented to the A&E Committee for resolution. If a resolution cannot be found, USB will:
  • Notify the QSSB that no resolution could be made,
  • Recommend action,
  • Inform the A&E Committee and/or Legal Counsel.
If all other avenues have been explored and still no resolution has been found, USB will contact USDA for their assistance. Delinquency actions taken in cases of delinquent submission of financials by the QSSBs include: 1. QSSB Executive Letter: If a state becomes delinquent in submitting a financial audit report, USB will immediately notify the QSSB’s executive office (on the 91st day) in writing. The letter will indicate that the state has thirty (30) days to submit the report. A copy of the letter will be sent to the QSSB chairperson. 2. QSSB Chairperson Letter: If a QSSB fails to respond within the thirty (30)-day grace period, USB shall immediately notify the chairperson of the QSSB of the report’s delinquency (on the 121st day). Letter will indicate that the QSSB has 30 days to comply. A copy of the letter will be sent to the Executive Officers of the QSSB and USB Directors from that state. 3. USB Action: If the QSSB has not submitted an audit by the end of the sixty (60)-day period, the QSSB immediately becomes subject to decertification and an audit by an independent CPA, arranged for by USB, but paid for by the QSSB (on the 151st day). The USB Audit & Evaluation Committee will be notified of the actions taken and initiate decertification proceedings and independent audit.