Finding 529237 (2024-005)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2025-03-21

Audit: 347264

Organization: Municipality of Salinas (PR)

Auditor: Betancourt & CO Psc

AI Summary

Issue: Incomplete accounting records for the Program, lacking summaries of financial transactions.
Impacted Requirements: Failure to meet standards for maintaining records of assets, liabilities, revenues, and expenditures.
Recommended Follow-up: Implement a system to ensure all financial transactions are properly recorded and summarized.

Finding Text

During my reporting test, we noted that the Program did not maintain adequate and complete accounting records and did not summarize the information of all the financial transactions related to assets, liabilities, revenues, and expenditures of the Program in formal accounting records.

Corrective Action Plan

The Municipality is in the process of changing to a new accounting system that allows Section 8 Program transactions to be recorded and thus maintain a complete and reliable accounting record.

Other Findings in this Audit

529238 2024-005

Material Weakness Repeat
1105679 2024-005

Material Weakness Repeat
1105680 2024-005

Material Weakness Repeat

Programs in Audit

ALN	Program Name	Expenditures
97.036	Disaster Grants - Public Assistance (presidentially Declared Disasters)	$7.43M
14.228	Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii	$1.40M
21.027	Coronavirus State and Local Fiscal Recovery Funds	$273,178
97.030	Community Disaster Loans	$239,098
93.575	Child Care and Development Block Grant	$140,257
14.871	Section 8 Housing Choice Vouchers	$74,983
14.231	Emergency Solutions Grant Program	$59,705
20.505	Metropolitan Transportation Planning and State and Non-Metropolitan Planning and Research	$18,598