Audit 398696

2024-001 - Account Reconciliations Criteria: An effective system of internal controls over financial reporting requires consistent, timely reconciliations of major general ledger accounts. Condition: Several general ledger accounts were not fully reconciled at year end. Cause: Staffing shortages and turnover continued to put strain on the finance department by requiring existing staff to perform multiple job responsibilities. This caused a lack of time to perform complete and accurate reconciliations on a timely basis. Effect: Several accounts were not completely reconciled, causing a delay in the completion of the audit. Recommendation: We continue to recommend management review its current reconciliation policies and procedures to identify any gaps in process or changes in responsibilities in an effort to complete general ledger reconciliations on a timely basis. It will also improve the accuracy and timing of the financial information presented to the Board of Directors on a regular basis throughout the year.

Finding 2025-002 - Section 232 - Mortgage Insurance - Nursing Homes, Intermediate Care Facilities, and Board and Care Homes and Assisted Living Facilities, Assistance Listing #14.129 Criteria: The Annual Financial Statement, AUD-OMB submission is due annually. Condition: The Annual Financial Statement, Electronic Submission to U.S. Department of Housing and Urban Development, Public Indian Housing – Real Estate Assessment Center (PIH-REAC), AUD-OMB submission was not filed timely. Cause: The timing of completion of the audit engagement did not allow for the AUD-OMB submission to be filed by the required due date. Effect: The report was submitted after the due date. Recommendation: Ensure the submission is filed timely.