Finding reference number: #2023-001
CFDA title and number (Federal award identification number and year): Supportive Housing for the Elderly Section No. 14.157 (122-EE078-WAH-NP and 1996)
Auditor non-compliance code: H – Unauthorized distribution of projected assets
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: $1,157
Statement of Condition #2023-001: During the year ended December 31, 2023, the Corporation made a payment on the CRA loan of $1,157 without HUD approval.
Criteria: Pursuant to the Regulatory Agreement, disbursements of the residual receipts fund may be made only after receiving consent in writing from HUD.
Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement.
Cause: The Corporation did make the required residual receipt deposit following the December 31, 2022 audit. The CRA loan is to be paid from residual receipts. The Corporation made a payment on the CRA loan in the amount of $1,157 from operations without HUD approval.
Recommendation: Management should submit a residual receipts request to HUD for the withdrawal in the amount of $1,157. In the future, management should obtain approval from HUD before making any payments on the CRA loan.
Management Response: Management concurs with the finding and will submit a residual receipts withdrawal request in the amount of $1,157 during the year ended December 31, 2024.
Finding reference number: #2023-001
CFDA title and number (Federal award identification number and year): Supportive Housing for the Elderly Section No. 14.157 (122-EE078-WAH-NP and 1996)
Auditor non-compliance code: H – Unauthorized distribution of projected assets
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: $1,157
Statement of Condition #2023-001: During the year ended December 31, 2023, the Corporation made a payment on the CRA loan of $1,157 without HUD approval.
Criteria: Pursuant to the Regulatory Agreement, disbursements of the residual receipts fund may be made only after receiving consent in writing from HUD.
Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement.
Cause: The Corporation did make the required residual receipt deposit following the December 31, 2022 audit. The CRA loan is to be paid from residual receipts. The Corporation made a payment on the CRA loan in the amount of $1,157 from operations without HUD approval.
Recommendation: Management should submit a residual receipts request to HUD for the withdrawal in the amount of $1,157. In the future, management should obtain approval from HUD before making any payments on the CRA loan.
Management Response: Management concurs with the finding and will submit a residual receipts withdrawal request in the amount of $1,157 during the year ended December 31, 2024.
Finding reference number: #2023-001
CFDA title and number (Federal award identification number and year): Supportive Housing for the Elderly Section No. 14.157 (122-EE078-WAH-NP and 1996)
Auditor non-compliance code: H – Unauthorized distribution of projected assets
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: $1,157
Statement of Condition #2023-001: During the year ended December 31, 2023, the Corporation made a payment on the CRA loan of $1,157 without HUD approval.
Criteria: Pursuant to the Regulatory Agreement, disbursements of the residual receipts fund may be made only after receiving consent in writing from HUD.
Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement.
Cause: The Corporation did make the required residual receipt deposit following the December 31, 2022 audit. The CRA loan is to be paid from residual receipts. The Corporation made a payment on the CRA loan in the amount of $1,157 from operations without HUD approval.
Recommendation: Management should submit a residual receipts request to HUD for the withdrawal in the amount of $1,157. In the future, management should obtain approval from HUD before making any payments on the CRA loan.
Management Response: Management concurs with the finding and will submit a residual receipts withdrawal request in the amount of $1,157 during the year ended December 31, 2024.
Finding reference number: #2023-001
CFDA title and number (Federal award identification number and year): Supportive Housing for the Elderly Section No. 14.157 (122-EE078-WAH-NP and 1996)
Auditor non-compliance code: H – Unauthorized distribution of projected assets
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: $1,157
Statement of Condition #2023-001: During the year ended December 31, 2023, the Corporation made a payment on the CRA loan of $1,157 without HUD approval.
Criteria: Pursuant to the Regulatory Agreement, disbursements of the residual receipts fund may be made only after receiving consent in writing from HUD.
Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement.
Cause: The Corporation did make the required residual receipt deposit following the December 31, 2022 audit. The CRA loan is to be paid from residual receipts. The Corporation made a payment on the CRA loan in the amount of $1,157 from operations without HUD approval.
Recommendation: Management should submit a residual receipts request to HUD for the withdrawal in the amount of $1,157. In the future, management should obtain approval from HUD before making any payments on the CRA loan.
Management Response: Management concurs with the finding and will submit a residual receipts withdrawal request in the amount of $1,157 during the year ended December 31, 2024.