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FMFIA Sections 2 & 4

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FMFIA Section 2, Management Control

The Commission has no declared material weakness under FMFIA for FY 2009 and FY 2008 in the area of financial reporting that hinders preparation of timely and accurate financial statements.

FMFIA Section 4, Financial Management Systems

The Commission declared no systems nonconformance under FMFIA during FY 2009 and FY 2008. The independent auditors’ reports for FY 2009 and FY 2008 disclosed no instances of noncompliance or other matters that were required to be reported under Government Audit Standards and OMB Bulletin 07-04, Audit Standards for Federal Financial Statements.