FAC Explorer

Audit 309991

FY End
2023-06-30
Total Expended
$1.68M
Findings
8
Programs
3
Organization: Colegio La Milagrosa, INC (PR)
Year: 2023 Accepted: 2024-06-26
Auditor: Rrc CPA Group Psc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
402798 2023-001 Significant Deficiency Yes L
402799 2023-001 Significant Deficiency Yes L
402800 2023-001 Significant Deficiency Yes L
402801 2023-001 Significant Deficiency Yes L
979240 2023-001 Significant Deficiency Yes L
979241 2023-001 Significant Deficiency Yes L
979242 2023-001 Significant Deficiency Yes L
979243 2023-001 Significant Deficiency Yes L

Programs

ALN Program Spent Major Findings
10.559 Summer Food Service Program for Children $717,440 Yes 1
10.553 School Breakfast Program $231,136 Yes 1
10.555 National School Lunch Program $55,403 Yes 1

Contacts

Name Title Type
GKANPR1182N6 Edwin G Hernandez Auditee
7878414728 Eric Rosaly Auditor
No contacts on file

Notes to SEFA

Title: GENERAL Accounting Policies: The schedule was prepared following the accrual basis of accounting, which is further explained in note 1 to the financial statements of Colegio La Milagros, Inc. for the year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: Colegio la Milagrosa, Inc. has elected not to use the 10% de minimis indirect cost rate allowed the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) presents the expenditures for the year ended June 30, 2023 of all the federally assisted programs of Colegio La Milagrosa, Inc.
Title: SCHOOL LUNCH CLUSTER PROGRAM COMPOSITION Accounting Policies: The schedule was prepared following the accrual basis of accounting, which is further explained in note 1 to the financial statements of Colegio La Milagros, Inc. for the year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: Colegio la Milagrosa, Inc. has elected not to use the 10% de minimis indirect cost rate allowed the Uniform Guidance. The composition of the School Lunch Cluster is as Follos: CFDA 10.553 School Breakfast program (SBP). CFDA 10.555 National School Lunch Program (NSLP). CFDA 10.559 Summer Food Service Program for Children (SFPC).
Title: FOOD DONATION Accounting Policies: The schedule was prepared following the accrual basis of accounting, which is further explained in note 1 to the financial statements of Colegio La Milagros, Inc. for the year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: Colegio la Milagrosa, Inc. has elected not to use the 10% de minimis indirect cost rate allowed the Uniform Guidance. Nonmonetary assistance is reported in the Schedule at thei fair market value of the commodities received and disbursed. On June 30, 2023, the Organization had no food commodities in inventory.
Title: RELATIONSHIP TO THE STATEMENTS Accounting Policies: The schedule was prepared following the accrual basis of accounting, which is further explained in note 1 to the financial statements of Colegio La Milagros, Inc. for the year ended June 30, 2023. De Minimis Rate Used: N Rate Explanation: Colegio la Milagrosa, Inc. has elected not to use the 10% de minimis indirect cost rate allowed the Uniform Guidance. A reconciliation of the Organization's expenditures included in the Schedule with all amounts included in the accompanying Statement of Activities and Functional Expenses for the year ended June30, 2022, is as follows: Total expenses under the Food Services Activities $1,684.853; Expenses related to contributions received from the Educational Activities $28,660; Total Federal funds expenditures $1,713,513

Finding Details

Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.
Finding 2023-001
The Organization accounted for its activities based on the services provided, which are educational services and food services. During our financial and compliance audit procedures for the fiscal year ended June 30, 2023, we noted the following conditions related to the accounting procedures and financial reporting practices of the Organization. Accounting and interim financial reports of the academic department are not executed on a current (month-to-month) basis. Accounting journals, general ledger and interim financial reports, such as balance sheet, statement of activities, bank reconciliations and monthly analysis of certain accounts are executed after the end of the related accounting year.