FAC Explorer

Audit 408295

FY End
2024-06-30
Total Expended
$9.75M
Findings
5
Programs
3
Organization: Compañia de Turismo de Puerto Rico (PR)
Year: 2024 Accepted: 2026-07-31
Auditor: RSM PUERTO RICO

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1225256 2024-002 Material Weakness Yes L
1225257 2024-002 Material Weakness Yes L
1225258 2024-003 Material Weakness Yes L
1225259 2024-004 Material Weakness Yes L
1225260 2024-005 Material Weakness Yes I

Programs

ALN Program Spent Major Findings
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $8.38M Yes 3
11.307 ECONOMIC ADJUSTMENT ASSISTANCE $1.29M Yes 2
97.036 DISASTER GRANTS - PUBLIC ASSISTANCE (PRESIDENTIALLY DECLARED DISASTERS) $83,475 Yes 0

Contacts

Name Title Type
TB2GKD6DEVN5 Nilsa Rodriguez Rivera Auditee
7872214837 Norma Vazquez Rodriguez Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Puerto Rico Tourism Company (the Company) under programs of the federal government for the year ended June 30, 2023. The information in the Schedule is presented in accordance with the requirements of Uniform Guidance 2 CFR 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 Company, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Company.
Expenditures reported on the Schedule are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
The Company has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The Assistance Listing Numbers (AL), formerly Catalog of Federal Domestic Assistance (CFDA) numbers, are the publicly available listings of Federal assistance programs. The first two digits identify the federal department or agency that administers the program, and the last three numbers are assigned by numerical sequence.

Finding Details

Finding 2024-002
Condition: The Company did not submit the required data collection form and reporting package for the year ended June 30, 2024, within the required period. Cause: The Company did not have available the financial information necessary to complete the audit procedures and Uniform Guidance Report. Effect or potential effect: Condition may result in noncompliance with the requirements of Reporting
Finding 2024-003
Condition: The Company was unable to provide evidence of the submitted bi-weekly financial progress reports, which resulted in auditors being unable to examine the reports and conclude on compliance with the reporting requirement. Cause: During the year, there was change in the key personnel in charge of reporting requirements, however, the Company did not perform the procedures needed to ensure that data related to reports submitted by the program were retained and backed up for records. Effect or potential effect: Condition may result in noncompliance with the requirements for reporting and records retention.
Finding 2024-004
Condition: The required FFATA reports for the fiscal year ending June 30, 2024, were not submitted. Cause: Lack of supervision related to the submission of FFATA reports for the Program. Effects: Condition may result in noncompliance with the requirements for Reporting.
Finding 2024-005
Condition: The key personnel in-charge of completing the procedures regarding eligibility of applicants under programs requirements did not perform the procedures to validate that the person or entity with whom it is intended to do business was not debarred, suspended or otherwise excluded from or ineligible for participation in Federal programs or activities. Cause: Lack of effective supervision procedures on contracts related to goods and services acquired with federal funds to ensure the personnel perform the required tasks during the purchase process. Effect or potential effect: Lack of formal procedures to ensure that the vendors/contractors were not suspended or debarred may lead to an unallowable cost.