Finding 619404 (2022-001)

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Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-06-01
Audit: 48449
Organization: Invest Puerto Rico Inc. (PR)
Auditor: Rsm Puerto Rico

AI Summary

  • Issue: Invest Puerto Rico Inc. failed to submit the required data collection form and reporting package on time for the year ending June 30, 2022.
  • Impacted Requirement: This noncompliance relates to the reporting criteria outlined in 2 CFR §200.512, which mandates timely submission of audit-related documents.
  • Follow-Up: Management should create a calendar system to ensure timely submission of all required reports in the future.

Finding Text

Finding Number: 2022-001 Federal Programs: Assistance Listing 14.228 Community Development Block Grants/State?s Program and Non-Entitlement Grants in Hawaii Category: Compliance Compliance Requirement: Reporting Criteria: 2 CFR ?200.512 (a) (1) establishes that the audit must be completed and the data collection form described in paragraph (b) of this section and reporting package described in paragraph (c) of this section 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. Condition: Invest Puerto Rico Inc. did not submit the required data collection form and reporting package for the year ended June 30, 2022, within the required period. Cause: Delay in the approval process of the basic financial statements ready in order to complete Uniform Guidance Report. Effects: Condition may result in noncompliance with the requirements for reporting. Questioned Costs: None. Recommendation: We recommend management to establish calendars to ascertain submission of data collection form and reporting package within the required dates.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $7.30M
21.027 Coronavirus State and Local Fiscal Recovery Funds $44,534