FAC Explorer

Audit 352134

FY End
2024-06-30
Total Expended
$74.39M
Findings
12
Programs
16
Organization: Pontifical Catholic University of Puerto Rico (PR)
Year: 2024 Accepted: 2025-03-31
Auditor: Kpmg LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
551524 2024-001 Significant Deficiency Yes N
551525 2024-002 Material Weakness - CL
551526 2024-001 Significant Deficiency Yes N
551527 2024-001 Significant Deficiency Yes N
551528 2024-001 Significant Deficiency Yes N
551529 2024-001 Significant Deficiency Yes N
1127966 2024-001 Significant Deficiency Yes N
1127967 2024-002 Material Weakness - CL
1127968 2024-001 Significant Deficiency Yes N
1127969 2024-001 Significant Deficiency Yes N
1127970 2024-001 Significant Deficiency Yes N
1127971 2024-001 Significant Deficiency Yes N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $43.47M Yes 1
84.063 Federal Pell Grant Program $26.39M Yes 1
84.033 Federal Work-Study Program $1.18M Yes 1
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1.13M Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $828,528 Yes 1
84.047 Trio Upward Bound $284,887 - 0
84.129 Rehabilitation Long-Term Training $233,528 - 0
84.425 Education Stabilization Fund $203,044 - 0
20.614 National Highway Traffic Safety Administration (nhtsa) Discretionary Safety Grants and Cooperative Agreements $90,798 - 0
47.076 Stem Education (formerly Education and Human Resources) $56,358 - 0
93.859 Biomedical Research and Research Training $38,223 - 0
16.575 Crime Victim Assistance $27,003 - 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $14,860 Yes 1
10.558 Child and Adult Care Food Program $6,712 - 0
15.657 Endangered Species Recovery Implementation $3,746 - 0
84.038 Federal Perkins Loan Program_federal Capital Contributions $0 Yes 0

Contacts

Name Title Type
FGNMYHB9WBN4 Jose Frontera Auditee
7873808391 Keila Perez Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, and its purpose is to present, in summary form, the student financial assistance, training and other activities of the Pontifical Catholic University of Puerto Rico for the year ended June 30, 2024 which have been financed by federal agencies. De Minimis Rate Used: N Rate Explanation: Used another agreed rate The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, and its purpose is to present, in summary form, the student financial assistance, training and other activities of the Pontifical Catholic University of Puerto Rico for the year ended June 30, 2024 which have been financed by federal agencies. Catalog of Federal Domestic Assistance (CFDA) numbers are presented for those programs for which such numbers were available. Federal programs are presented, as appropriate, by Federal Department. During the year ended June 30, 2024, all federal awards were received by Pontifical Catholic University of Puerto Rico. It's affiliate, Pontifical Catholic University Service Association did not received federal awards during such year.
Title: Loan Programs Accounting Policies: The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, and its purpose is to present, in summary form, the student financial assistance, training and other activities of the Pontifical Catholic University of Puerto Rico for the year ended June 30, 2024 which have been financed by federal agencies. De Minimis Rate Used: N Rate Explanation: Used another agreed rate The University administers the following federal loan programs: Federal Perkins Loan Program $1,299,631 For the fiscal year ended June 30, 2024 there were no disbursements related to the Federal Perkins Loan Program. The University also participates in the Federal Direct Students Loans. Such program is considered as a component of the student financial assistance major programs. New loans made to eligible students during the year ended June 30, 2024 is: $43,466,164.
Title: Indirect Costs Accounting Policies: The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, and its purpose is to present, in summary form, the student financial assistance, training and other activities of the Pontifical Catholic University of Puerto Rico for the year ended June 30, 2024 which have been financed by federal agencies. De Minimis Rate Used: N Rate Explanation: Used another agreed rate The University has elected not to use the 10-percent- de- minimis indirect cost rate as outlined in the Uniform Guidance.
Title: Adminstrative Cost Allowance Accounting Policies: The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, and its purpose is to present, in summary form, the student financial assistance, training and other activities of the Pontifical Catholic University of Puerto Rico for the year ended June 30, 2024 which have been financed by federal agencies. De Minimis Rate Used: N Rate Explanation: Used another agreed rate The University claimed an administrative cost allowance of $20,015 for the year ended June 30, 2024. This amount is included in the accompanying Schedule as federal expenditures under the Federal Work-Study Program.

Finding Details

Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-002
As a result of our audit procedures, the engagement team identified expenditures not properly reported in the SEFA for the fiscal year ended June 30, 2024. Amounts in the SEFA were corrected by management.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-002
As a result of our audit procedures, the engagement team identified expenditures not properly reported in the SEFA for the fiscal year ended June 30, 2024. Amounts in the SEFA were corrected by management.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.
Finding 2024-001
During our review of the internal controls over compliance and compliance requirements, we noted that the Pontifical Catholic University, "the University", did not have written procedures or formal policies to ensure compliance all the elements included in the criteria. We were no able to identify formal written procedures for the elements: 4,5,7 and 9.