FAC Explorer

Audit 386927

FY End
2025-06-30
Total Expended
$981,025
Findings
1
Programs
2
Organization: Mound Bayou Housing Authority (MS)
Year: 2025 Accepted: 2026-02-12
Auditor: JOHN RUSSELL AND ASSOCIATES INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1173337 2025-001 Material Weakness Yes C

Programs

ALN Program Spent Major Findings
14.872 PUBLIC HOUSING CAPITAL FUND $548,944 Yes 1
14.850 PUBLIC AND INDIAN HOUSING $432,081 Yes 0

Contacts

Name Title Type
LJH1ZJNPLVB6 Rhonda Huey Auditee
6627412061 John G. Russell Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Mound Bayou Housing Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Cose of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Housing Authority did not elect to use the 10% De Minimus Cost Rate.

Finding Details

Finding 2025-001
2025-001: Cash Management Assistance Listing Number: 14.872, Capital Fund Program Condition and Criteria: 24 CFR 905.310 has the following conditions for the cash management regulation: 1) The PHA shall initiate a fund requisition only when funds are due and payable, unless HUD approves another payment schedule as authorized by 2 CFR 200.305. 2) The PHA shall maintain detailed disbursement records to document eligible expenditures (e.g., contracts or other documents), in a form and manner prescribed by HUD. During the current year audit, the following were noted: 1) One drawdown was deposited 2/5/2025, payment was made 2/27/25. 2) A drawdown dated 12/16/24 for $53,475 – The Housing Authority did not have any invoice documentation attached to the drawdown. 3) The Authority drew down funds from their 501-23 year program in February 2025. As of June 30, 2025, $256,674.13 remains unspent and is shown as an unearned revenue on the Statement of Net Position. Type of Finding: Material Weakness Cause: The Housing Authority experienced turnover in the Executive Director Position. Proper communication and training was not done in the internal control structure to allow compliance with HUD rules and regulations. Effect: The Housing Authority is not in compliance with the Cash Management requirements. Questioned Costs: None known Auditors’ Recommendation: We recommend that the Housing Authority strengthen its internal control structure in relation to the Cash Management requirements.