Finding 1225257 (2024-002)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2026-07-31

Audit: 408295

Organization: Compañia de Turismo de Puerto Rico (PR)

Auditor: RSM PUERTO RICO

AI Summary

Answer: The Company failed to submit the necessary data collection form and reporting package on time for the year ending June 30, 2024.
Trend: This delay indicates a potential pattern of inadequate financial information management, which could lead to ongoing compliance issues.
List: Follow up by ensuring the Company has the required financial data available and establish a timeline for future submissions to avoid noncompliance.

Finding Text

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

Corrective Action Plan

Management implemented reporting calendars, assigned responsibilities, and monitoring procedures designed to improve coordination and facilitate compliance with federal reporting deadlines.

Other Findings in this Audit

1225256 2024-002

Material Weakness Repeat
1225258 2024-003

Material Weakness Repeat
1225259 2024-004

Material Weakness Repeat
1225260 2024-005

Material Weakness Repeat

Programs in Audit

ALN	Program Name	Expenditures
21.027	CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS	$8.38M
11.307	ECONOMIC ADJUSTMENT ASSISTANCE	$1.29M
97.036	DISASTER GRANTS - PUBLIC ASSISTANCE (PRESIDENTIALLY DECLARED DISASTERS)	$83,475