FAC Explorer

Audit 14096

FY End
2023-06-30
Total Expended
$3.02M
Findings
2
Programs
1
Organization: Invest Puerto Rico Inc. (PR)
Year: 2023 Accepted: 2024-01-29
Auditor: Rsm Puerto Rico

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
10427 2023-001 - - I
586869 2023-001 - - I

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $3.02M Yes 1

Contacts

Name Title Type
MRFGG83H6WV7 Astrid Navarro Auditee
7876495713 Norma Vazquez Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The Schedule has been prepared using the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. De Minimis Rate Used: N Rate Explanation: Not applicable The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Invest Puerto Rico Inc. (the Organization) under programs of the federal government for the fiscal year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position and changes in net position of the Organization. Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements. All federal awards received directly from federal agencies as well as federal awards passed through from other local government agencies are included in the Schedule.

Finding Details

Finding 2023-001
From a sample of twenty (20) disbursements, Invest Puerto Rico, Inc. did not include the following contract provisions in two (2) supplier contracts as required:(G) Clean Air Act (42 U.S.C. 7401–7671q.) and the Federal Water Pollution Control Act (33 U.S.C. 1251–1387), as amended – Contracts and subgrants of amounts in excess of $150,000 must contain a provision that requires the non-Federal award to agree to comply with all applicable standards, orders or regulations issued pursuant to the Clean Air Act (42 U.S.C. 7401–7671q) and the Federal Water Pollution Control Act as amended (33 U.S.C. 1251–1387). Violations must be reported to the Federal awarding agency and the Regional Office of the Environmental Protection Agency (EPA).(I) Byrd Anti-Lobbying Amendment (31 U.S.C. 1352) – Contractors that apply or bid for an award exceeding $100,000 must file the required certification. Each tier certifies to the tier above that it will not and has not used Federal appropriated funds to pay any person or organization for influencing or attempting to influence an officer or employee of any agency, a member of Congress, officer or employee of Congress, or an employee of a member of Congress in connection with obtaining any Federal contract, grant or any other award covered by 31 U.S.C. 1352. Each tier must also disclose any lobbying with non-Federal funds that takes place in connection with obtaining any Federal award. Such disclosures are forwarded from tier to tier up to the non-Federal award.
Finding 2023-001
From a sample of twenty (20) disbursements, Invest Puerto Rico, Inc. did not include the following contract provisions in two (2) supplier contracts as required:(G) Clean Air Act (42 U.S.C. 7401–7671q.) and the Federal Water Pollution Control Act (33 U.S.C. 1251–1387), as amended – Contracts and subgrants of amounts in excess of $150,000 must contain a provision that requires the non-Federal award to agree to comply with all applicable standards, orders or regulations issued pursuant to the Clean Air Act (42 U.S.C. 7401–7671q) and the Federal Water Pollution Control Act as amended (33 U.S.C. 1251–1387). Violations must be reported to the Federal awarding agency and the Regional Office of the Environmental Protection Agency (EPA).(I) Byrd Anti-Lobbying Amendment (31 U.S.C. 1352) – Contractors that apply or bid for an award exceeding $100,000 must file the required certification. Each tier certifies to the tier above that it will not and has not used Federal appropriated funds to pay any person or organization for influencing or attempting to influence an officer or employee of any agency, a member of Congress, officer or employee of Congress, or an employee of a member of Congress in connection with obtaining any Federal contract, grant or any other award covered by 31 U.S.C. 1352. Each tier must also disclose any lobbying with non-Federal funds that takes place in connection with obtaining any Federal award. Such disclosures are forwarded from tier to tier up to the non-Federal award.