Audit 35956

2022-001 Financial Management ? Accounting System and Reporting Practices Criteria As stated in Uniform Guidance Part 200.302 ? Standards for Financial management: (3) The financial management system of other grantees and sub-grantees must meet the following standards: (3) Accounting records: Grantees and sub-grantees must maintain records which adequately identify the source and application of funds provided for financially assisted activities. These records must contain information pertaining to grant or subgrant awards and authorizations, obligations, un-obligated balances, assets, liabilities outlays or expenditures and income. Condition The accounting records did not identify any record or disclose information related to the funds, assets and liabilities. Cause The Board's accounting system is in the process of completing the integration of an accounting software to maintain records of funds, assets and liabilities. The Board's funds are, by law, under custody and control of the Secretary of the Treasury and are also accounted for in the Commonwealth's Central Government Accounting Systems (CGAS). Effect The Board does not have complete financial information that could affect the decision-making process. Questioned cost None Perspective information N/A Repeat finding 2021-001 Recommendation The Board needs to complete the integration process of its accounting system that will provide complete financial information. View of responsible Official Management agrees. Official Mr. Andres Ruiz, Finance Director

2022-001 Financial Management ? Accounting System and Reporting Practices Criteria As stated in Uniform Guidance Part 200.302 ? Standards for Financial management: (3) The financial management system of other grantees and sub-grantees must meet the following standards: (3) Accounting records: Grantees and sub-grantees must maintain records which adequately identify the source and application of funds provided for financially assisted activities. These records must contain information pertaining to grant or subgrant awards and authorizations, obligations, un-obligated balances, assets, liabilities outlays or expenditures and income. Condition The accounting records did not identify any record or disclose information related to the funds, assets and liabilities. Cause The Board's accounting system is in the process of completing the integration of an accounting software to maintain records of funds, assets and liabilities. The Board's funds are, by law, under custody and control of the Secretary of the Treasury and are also accounted for in the Commonwealth's Central Government Accounting Systems (CGAS). Effect The Board does not have complete financial information that could affect the decision-making process. Questioned cost None Perspective information N/A Repeat finding 2021-001 Recommendation The Board needs to complete the integration process of its accounting system that will provide complete financial information. View of responsible Official Management agrees. Official Mr. Andres Ruiz, Finance Director