Finding Text
FINDING NUMBER: 2022-008 REQUIREMENT: SINGLE AUDIT ACT TYPE OF FINDING: SIGNIFICANT DEFICIENCY (SD) / NONCOMPLIANCE (NC) CONDITION: The Single Audit Report for the fiscal year ended June 30, 2022 was not issued within nine (9) months after the end of the audit period. The Data Collection Form and the reporting package was not submitted on a timely basis. CRITERIA: The Single Audit Act, as amended, requires that the audit report must be submitted to the Federal Audit Clearinghouse no later than nine (9) months after the end of the audit period. CAUSE: The Municipality did not comply with the established regulation as prescribed in OMB Super Circular Uniform Guidance. EFFECT: The Municipality could lose federal grants due to the noncompliance with the Single Audit Act requirements. RECOMMENDATION: Procedures should be implemented to ensure that the Agency complies with the established Federal Regulation, as prescribed by OMB Super Circular Uniform Guidance. QUESTIONED COST: None PRIOR YEAR FINDING: None VIEWS OF RESPONSIBLE OFFICIALS AND PLANNED CORRECTIVE ACTION: The fiscal year 2021-2022 Single Audit submission for Municipality of Toa Alta will be submitted through the Federal Audit Clearinghouse (FAC) no later than April 30, 2023. About the subsequent year Single Audit, we engaged the audit services on March 31, 2023, and we are going to engage the financial statements preparation consulting services on July 2023, in order to comply with fiscal year 2022-2023 Single Audit submission dateline. Implementation Date: April 30, 2023 Responsible Person: Kristian Rivera Santiago Finance Director