Finding 485165 (2022-005)

- Repeat Finding
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2024-08-27

AI Summary

  • Core Issue: The Authority is not meeting federal reporting deadlines for the Single Audit report.
  • Impacted Requirements: Non-compliance with 2 CFR Part 200.512 could jeopardize future federal grants.
  • Recommended Follow-up: Ensure timely submission of the Data Collection Form and Reporting Package to meet audit requirements.

Finding Text

2 CFR Part 200.512, Report Submission-General, states that (1) The audit must be completed and the Data Collection Form and the Reporting Package must be submitted within the earlier of 30 calendar days after receipt of the auditor's report(s), or nine months after the end of the audit period. If the due date falls on a Saturday, Sunday, or Federal holiday, the reporting package is due the next business day. The Authority is not in compliance with the reporting requirements set forth by federal regulations, which could affect the future of its federal grants. The Authority has not been able to provide the necessary information for the preparation of the Single Audit report on a timely basis in order to complete its reporting requirements for the fiscal year 2022.

Corrective Action Plan

As of 2017, the Puerto Rico Treasury Department decreed that all government agencies are required to submit their financial statement for review before making it official. Part of this requirement is based on the fiscal situation of the Commonwealth of Puerto Rico. Due to the fiscal crisis, the government is currently restructuring its obligations in an orderly manner under Title III of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) of the United States Congress. In order to complete and submit the Single Audit Report, the Authority is also required to include information on retirees, their post-employment benefits and their pension. Such information, although not part of the basic financial statement is require by the Governmental Accounting Standards Board (GASB). In order to comply with this information, AMA depend on the Puerto Rico Administration of Retirement System, this is the agency that produce the actuarial information. These new requirements, as mentioned above, are extremely rigorous and have an impact on the delay in the completion of the reports.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
20.507 Federal Transit_formula Grants $8.32M
20.516 Job Access and Reverse Commute Program $2.37M
20.527 Public Transportation Emergency Relief Program $1.15M
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.07M
20.526 Buses and Bus Facilities Formula, Competitive, and Low Or No Emissions Programs $838,119