Audit of the project for the production of macadamia with the Cantonal Agricultural Center of Turrialba in Costa Rica : Public Law 480, Title I funds

480 Title I funds by the Cantonal Agricultural Center of Turrialba (CACTU) in Costa Rica in a project to increase macadamia production. Non-Federal financial and compliance audit conducted by Price Waterhouse covers the period 4/84-9/85 and is based on review of relevant accounting records. CACTU"s financial information fairly presents the results of operations as of 9/85, and internal controls are adequate for A.I.D."s purposes except that: (1) the project"s accounting records do not separate and identify its two financing sources; and (2) cancelled checks were not reviewed by CACTU officers. CACTU also was found to have complied with all applicable agreements and regulations, except for a lack of periodic reports to USAID/CR and the Government of Costa Rica; however, Price Waterhouse determined that the project agreement does not regulate certain financial aspects. Recommendations are made to improve CACTU"s internal controls, improve future P.L. 480 Title I agreements, and to achieve full compliance with applicable laws, regulations, and agreements. (Author abstract, modified)