Finding Text
COMMONWEALTH OF PUERTO RICO MUNICIPALITY OF COAMO Schedule of Findings and Questioned Costs For the Fiscal Year Ended June 30, 2022 Section III ?Federal Award Findings and Questioned Costs Finding Reference: 2022-005 Compliance Requirement: Single Audit Act Type of Finding: Significant Deficiency (SD), Instance of Noncompliance (NC) Statement of 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 were 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 of Condition: The Municipality did not comply with the established regulation as prescribed in OMB Super Circular Uniform Guidance. Effect of Condition: 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 Municipality complies with the established Federal Regulation, as prescribed by OMB Super Circular Uniform Guidance. Questioned Costs: None Prior Year Finding: No Views of Responsible Officials and Planned Corrective Action: The fiscal year 2021-2022 Single Audit Report for Municipality of Coamo 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: Mrs. Miraisa David Esparra Finance Department Director