Results of Limited Scope Review at Instituto Socio-Econ�mico Comunitario, Inc.
We reviewed the financial condition of Instituto Socio-Econ�mico Comunitario, Inc. (INSEC), as part of a nationwide series of reviews of Community Action Agencies that have received funding under the American Recovery and Reinvestment Act of 2009.
Based on our assessment, INSEC has the capacity to manage and account for Federal funds and to operate a Community Services Block Grant (CSBG) program in accordance with Federal regulations. However, we were unable to determine whether INSEC is financially viable because audited financial statements for calendar years 2006 through 2009 were not available at the time of our review. In addition, we identified certain weaknesses relating to the adequate safeguarding of Federal funds and written accounting policies and procedures.
We recommended that the Administration for Children and Families consider the information presented in this report in assessing INSEC's ability to operate its CSBG program in accordance with Federal regulations. In written comments on our draft report, INSEC concurred with our findings and indicated steps that it has taken or plans to take to address our findings.
Filed under: Administration for Children and Families