Audit 40843

S3800-010 Finding Reference Number ? 2022-001 S3800-011 Title and CFDA Number of Federal Program ? Section 811 HUD Capital Advance 14.181 S3800-015 Type of Finding ? Federal Award S3800-016 Finding Resolution Status ? Cleared S3800-017 Information on Universe Population Size ? N/A S3800-018 Sample Size Information ? N/A S3800-019 Identification of Repeat Finding and Finding Reference Number ? N/A S3800-020 Criteria ? In accordance with the Regulatory Agreement between the Corporation and HUD, the Corporation is required to deposit ?Surplus Cash? as defined by HUD, existing at the end of the fiscal year in a residual receipts account in the name of the Corporation within 90 days subsequent to the end of the fiscal year. S3800-030 Statement of Condition ? The Corporation failed to make the required deposit of $21,454 within 90 days subsequent to the end of the fiscal year into the residual receipts account during the year. S3800-032 Cause ? Unknown. S3200-033 Effect or Potential Effect ? The Corporation is in violation of its Regulatory Agreement entered into between the Corporation and HUD. S3800-035 Auditor Non-Compliance Code - B S3800-040 Questioned Costs - $21,454 S3800-045: Reporting Views of Responsible Officials ? Management made the required deposit of $21,454 on July 26, 2022 into the residual receipts account. S3800-050 Context ? The Corporation is in violation of its Regulatory Agreement entered into between the Corporation and HUD. S3800-080 Recommendation ? Management should insure future required deposits from ?Surplus Cash? as defined by HUD, existing at the end of the fiscal year are deposited within 90 days subsequent to the end of the fiscal year in a residual receipts account in the name of the Corporation. S3800-090 Auditor?s Summary of the Auditee?s Comments on the Findings and Recommendations ? Management will take steps to confirm future required deposits are made within the 90-day time period. S3800-130 Response Indicator ? Agree S3800-140 Completion Date ? 7/26/22 S3800-150 Response ? Management deposited $21,454 into the residual receipts account on July 26, 2022.

S3800-010 Finding Reference Number ? 2022-002 S3800-011 Title and CFDA Number of Federal Program ? Section 811 HUD Capital Advance 14.181 S3800-015 Type of Finding ? Federal Award S3800-016 Finding Resolution Status ? Open S3800-017 Information on Universe Population Size ? N/A S3800-018 Sample Size Information ? N/A S3800-019 Identification of Repeat Finding and Finding Reference Number ? N/A S3800-020 Criteria ? In accordance with the Regulatory Agreement between the Corporation and HUD, the Corporation is required to make monthly deposits, in an amount determined by HUD, into a replacement reserve account. S3800-030 Statement of Condition ? The Corporation failed to make 5 of the 12 required monthly deposits into the replacement reserve account. S3800-032 Cause ? Unknown. S3200-033 Effect or Potential Effect ? The Corporation is in violation of its Regulatory Agreement entered into between the Corporation and HUD. S3800-035 Auditor Non-Compliance Code - N S3800-040 Questioned Costs - $5,835 S3800-045: Reporting Views of Responsible Officials ? Management will deposit $5,835 into the reserve for replacement account immediately. S3800-050 Context ? The Corporation failed to make the required deposits into the replacement reserve account. S3800-080 Recommendation ? The Corporation needs to make sure required monthly deposits into the replacement reserve account are made in a timely manner. S3800-090 Auditor?s Summary of the Auditee?s Comments on the Findings and Recommendations ? Management is aware of the requirement and will confirm all future required monthly deposits are made. S3800-130 Response Indicator ? Agree S3800-140 Completion Date ? April 2022 S3800-150 Response ? Management is aware of the requirement and will confirm all future required monthly deposits are made.

S3800-010 Finding Reference Number ? 2022-001 S3800-011 Title and CFDA Number of Federal Program ? Section 811 HUD Capital Advance 14.181 S3800-015 Type of Finding ? Federal Award S3800-016 Finding Resolution Status ? Cleared S3800-017 Information on Universe Population Size ? N/A S3800-018 Sample Size Information ? N/A S3800-019 Identification of Repeat Finding and Finding Reference Number ? N/A S3800-020 Criteria ? In accordance with the Regulatory Agreement between the Corporation and HUD, the Corporation is required to deposit ?Surplus Cash? as defined by HUD, existing at the end of the fiscal year in a residual receipts account in the name of the Corporation within 90 days subsequent to the end of the fiscal year. S3800-030 Statement of Condition ? The Corporation failed to make the required deposit of $21,454 within 90 days subsequent to the end of the fiscal year into the residual receipts account during the year. S3800-032 Cause ? Unknown. S3200-033 Effect or Potential Effect ? The Corporation is in violation of its Regulatory Agreement entered into between the Corporation and HUD. S3800-035 Auditor Non-Compliance Code - B S3800-040 Questioned Costs - $21,454 S3800-045: Reporting Views of Responsible Officials ? Management made the required deposit of $21,454 on July 26, 2022 into the residual receipts account. S3800-050 Context ? The Corporation is in violation of its Regulatory Agreement entered into between the Corporation and HUD. S3800-080 Recommendation ? Management should insure future required deposits from ?Surplus Cash? as defined by HUD, existing at the end of the fiscal year are deposited within 90 days subsequent to the end of the fiscal year in a residual receipts account in the name of the Corporation. S3800-090 Auditor?s Summary of the Auditee?s Comments on the Findings and Recommendations ? Management will take steps to confirm future required deposits are made within the 90-day time period. S3800-130 Response Indicator ? Agree S3800-140 Completion Date ? 7/26/22 S3800-150 Response ? Management deposited $21,454 into the residual receipts account on July 26, 2022.

S3800-010 Finding Reference Number ? 2022-002 S3800-011 Title and CFDA Number of Federal Program ? Section 811 HUD Capital Advance 14.181 S3800-015 Type of Finding ? Federal Award S3800-016 Finding Resolution Status ? Open S3800-017 Information on Universe Population Size ? N/A S3800-018 Sample Size Information ? N/A S3800-019 Identification of Repeat Finding and Finding Reference Number ? N/A S3800-020 Criteria ? In accordance with the Regulatory Agreement between the Corporation and HUD, the Corporation is required to make monthly deposits, in an amount determined by HUD, into a replacement reserve account. S3800-030 Statement of Condition ? The Corporation failed to make 5 of the 12 required monthly deposits into the replacement reserve account. S3800-032 Cause ? Unknown. S3200-033 Effect or Potential Effect ? The Corporation is in violation of its Regulatory Agreement entered into between the Corporation and HUD. S3800-035 Auditor Non-Compliance Code - N S3800-040 Questioned Costs - $5,835 S3800-045: Reporting Views of Responsible Officials ? Management will deposit $5,835 into the reserve for replacement account immediately. S3800-050 Context ? The Corporation failed to make the required deposits into the replacement reserve account. S3800-080 Recommendation ? The Corporation needs to make sure required monthly deposits into the replacement reserve account are made in a timely manner. S3800-090 Auditor?s Summary of the Auditee?s Comments on the Findings and Recommendations ? Management is aware of the requirement and will confirm all future required monthly deposits are made. S3800-130 Response Indicator ? Agree S3800-140 Completion Date ? April 2022 S3800-150 Response ? Management is aware of the requirement and will confirm all future required monthly deposits are made.