Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended September 30, 2023 within the required timeframe.
Criteria - According to the Uniform Guidance compliance requirements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first.
Effect - The Corporation was not in compliance with the above Uniform Guidance compliance requirement.
Cause - Due to the complications of the transfer of management companies, management was not able to have the audit completed within the required timeframe.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Repeat Finding - This is a repeat finding of 2022-002 from the prior year.
Recommendation - We recommend that management submit the Form SF-SAC as soon as possible for the year ended September 30, 2023.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management will submit the Form SF-SAC to the Federal Audit Clearinghouse as soon as the audit is received for the year ended September 30, 2023.
Condition - The reserve for replacements account is underfunded by $15,000 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit $1,000 in a reserve for replacements account on a monthly basis.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The reserve for replacements account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Repeat Finding - This is a repeat finding of 2022-001 from the prior year.
Recommendation - We recommend that the delinquent deposits totaling $15,000 for the year ended September 30, 2023 be deposited into the reserve for replacements account as soon as possible.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The residual receipts account is underfunded by $14,849 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit surplus cash in a residual receipts account.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The residual receipts account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Recommendation - We recommend that the delinquent deposits totaling $14,849 for the year ended September 30, 2023 be deposited into the residual receipts account as soon as possible.
Management's Reply -(a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended September 30, 2023 within the required timeframe.
Criteria - According to the Uniform Guidance compliance requirements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first.
Effect - The Corporation was not in compliance with the above Uniform Guidance compliance requirement.
Cause - Due to the complications of the transfer of management companies, management was not able to have the audit completed within the required timeframe.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Repeat Finding - This is a repeat finding of 2022-002 from the prior year.
Recommendation - We recommend that management submit the Form SF-SAC as soon as possible for the year ended September 30, 2023.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management will submit the Form SF-SAC to the Federal Audit Clearinghouse as soon as the audit is received for the year ended September 30, 2023.
Condition - The reserve for replacements account is underfunded by $15,000 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit $1,000 in a reserve for replacements account on a monthly basis.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The reserve for replacements account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Repeat Finding - This is a repeat finding of 2022-001 from the prior year.
Recommendation - We recommend that the delinquent deposits totaling $15,000 for the year ended September 30, 2023 be deposited into the reserve for replacements account as soon as possible.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The residual receipts account is underfunded by $14,849 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit surplus cash in a residual receipts account.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The residual receipts account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Recommendation - We recommend that the delinquent deposits totaling $14,849 for the year ended September 30, 2023 be deposited into the residual receipts account as soon as possible.
Management's Reply -(a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended September 30, 2023 within the required timeframe.
Criteria - According to the Uniform Guidance compliance requirements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first.
Effect - The Corporation was not in compliance with the above Uniform Guidance compliance requirement.
Cause - Due to the complications of the transfer of management companies, management was not able to have the audit completed within the required timeframe.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Repeat Finding - This is a repeat finding of 2022-002 from the prior year.
Recommendation - We recommend that management submit the Form SF-SAC as soon as possible for the year ended September 30, 2023.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management will submit the Form SF-SAC to the Federal Audit Clearinghouse as soon as the audit is received for the year ended September 30, 2023.
Condition - The reserve for replacements account is underfunded by $15,000 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit $1,000 in a reserve for replacements account on a monthly basis.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The reserve for replacements account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Repeat Finding - This is a repeat finding of 2022-001 from the prior year.
Recommendation - We recommend that the delinquent deposits totaling $15,000 for the year ended September 30, 2023 be deposited into the reserve for replacements account as soon as possible.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The residual receipts account is underfunded by $14,849 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit surplus cash in a residual receipts account.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The residual receipts account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Recommendation - We recommend that the delinquent deposits totaling $14,849 for the year ended September 30, 2023 be deposited into the residual receipts account as soon as possible.
Management's Reply -(a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended September 30, 2023 within the required timeframe.
Criteria - According to the Uniform Guidance compliance requirements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first.
Effect - The Corporation was not in compliance with the above Uniform Guidance compliance requirement.
Cause - Due to the complications of the transfer of management companies, management was not able to have the audit completed within the required timeframe.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Repeat Finding - This is a repeat finding of 2022-002 from the prior year.
Recommendation - We recommend that management submit the Form SF-SAC as soon as possible for the year ended September 30, 2023.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management will submit the Form SF-SAC to the Federal Audit Clearinghouse as soon as the audit is received for the year ended September 30, 2023.
Condition - The reserve for replacements account is underfunded by $15,000 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit $1,000 in a reserve for replacements account on a monthly basis.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The reserve for replacements account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Repeat Finding - This is a repeat finding of 2022-001 from the prior year.
Recommendation - We recommend that the delinquent deposits totaling $15,000 for the year ended September 30, 2023 be deposited into the reserve for replacements account as soon as possible.
Management's Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.
Condition - The residual receipts account is underfunded by $14,849 at September 30, 2023.
Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157-Supportive Housing for the Elderly, the Corporation is required to deposit surplus cash in a residual receipts account.
Effect - The Corporation was not in compliance with the above HUD regulations.
Cause - The residual receipts account was not adequately funded during the year.
Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample.
Recommendation - We recommend that the delinquent deposits totaling $14,849 for the year ended September 30, 2023 be deposited into the residual receipts account as soon as possible.
Management's Reply -(a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation. Please see below for action taken.
(b) Action taken: Management has deposited the underfunded amount as of the date of this report.