FAC Explorer

Audit 28650

FY End
2022-12-31
Total Expended
$58.45M
Findings
22
Programs
12
Organization: Chn Housing Partners (OH)
Year: 2022 Accepted: 2023-08-02
Auditor: Cohen & Company LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
28481 2022-001 Significant Deficiency - P
28482 2022-001 Significant Deficiency - P
28483 2022-001 Significant Deficiency - P
28484 2022-001 Significant Deficiency - P
28485 2022-001 Significant Deficiency - P
28486 2022-001 Significant Deficiency - P
28487 2022-001 Significant Deficiency - P
28488 2022-001 Significant Deficiency - P
28489 2022-001 Significant Deficiency - P
28490 2022-001 Significant Deficiency - P
28491 2022-001 Significant Deficiency - P
604923 2022-001 Significant Deficiency - P
604924 2022-001 Significant Deficiency - P
604925 2022-001 Significant Deficiency - P
604926 2022-001 Significant Deficiency - P
604927 2022-001 Significant Deficiency - P
604928 2022-001 Significant Deficiency - P
604929 2022-001 Significant Deficiency - P
604930 2022-001 Significant Deficiency - P
604931 2022-001 Significant Deficiency - P
604932 2022-001 Significant Deficiency - P
604933 2022-001 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
21.023 Emergency Rental Assistance Program $35.85M Yes 1
93.569 Community Services Block Grant $4.71M - 0
21.026 Homeowner Assistance Fund $2.52M Yes 1
81.042 Weatherization Assistance for Low-Income Persons $738,650 - 0
93.568 Low-Income Home Energy Assistance $563,286 Yes 1
21.000 Federal Equitable Sharing Program $355,450 - 0
14.218 Community Development Block Grants/entitlement Grants $229,776 - 0
14.239 Home Investment Partnerships Program $132,045 - 0
21.009 Volunteer Income Tax Assistance (vita) Matching Grant Program $78,000 - 0
14.169 Housing Counseling Assistance Program $37,800 - 0
93.558 Temporary Assistance for Needy Families $21,495 - 0
14.256 Neighborhood Stabilization Program (recovery Act Funded) $17,128 - 0

Contacts

Name Title Type
LGKCFFP8LMD6 Peggy Melnick Auditee
2167742405 Tina Dzik Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.
Finding 2022-001
CONDITION: During 2022, procedures were not in place to ensure general ledger accounts were reconciled and reviewed on a timely basis. As a result, financial reports were not filed timely to third parties. CRITERIA: Systems and procedures should provide for reconciliation and review of general ledger accounts to occur on a timely basis to allow for accurate and timely preparation of financial reports. CAUSE: Systems and procedures were not in place to ensure general ledger accounts were reconciled and reports were filed timely to third parties. EFFECT: With no procedures in place to ensure timely reconciliation and review of general ledger accounts, there is potential that financial reports will be misstated and not filed timely to third parties. RECOMMENDATION: Systems and procedures should be established by management to allow for timely reconciliation and review of general ledger accounts. MANAGEMENT?S RESPONSE: Starting in late summer 2020, the large influx of federal COVID-19 relief funds and the overwhelming need for immediate rental and utility support led to unanticipated program growth but also strained internal back-office support capacity as CHN Housing Partners and Affiliates quickly responded to meet the demand for assistance. In response to this capacity issue, in 2021, CHN Housing Partners and Affiliates hired additional accounting personnel. In 2022, CHN Housing Partners and Affiliates experienced turnover in their accounting department and replacements were not hired until 2023. CHN Housing Partners and Affiliates will continue to analyze the needs of the accounting department to ensure the timely reconciliation of the general ledger and reporting to third parties.