Section III - Federal Award Findings and Questioned Costs Finding Number: 2022-001 Information on Universe and Population Size: N/ASample Size Information: N/A Questioned Costs: $0 Statement of Condition: The residual receipts deposit required to be made in fiscal year 2019 has not been made. Criteria: The Corporation is required to deposit surplus cash into a residual receipts account. Cause: The project had insufficient cash in 2019, 2020, 2021, and 2022 and was not able to make the deposit. During 2022, management consulted with HUD for a resolution. No resolution was obtained prior to June 30, 2022. Effect: The residual receipts account is underfunded by $22,643. Repeat Finding: Yes, reported as 2019-001 for the year ended June 30, 2019, 2020-001 for the year ended June 30, 2020, and 2021-001 for the year ended June 30, 2021. Recommendation: We recommend that management consult with their HUD representative for a remedy, or make the required deposit. Reporting Views of Responsible Officials: We will continue to pursue an acceptable solution with our HUD representative.
Section III - Federal Award Findings and Questioned Costs Finding Number: 2022-001 Information on Universe and Population Size: N/ASample Size Information: N/A Questioned Costs: $0 Statement of Condition: The residual receipts deposit required to be made in fiscal year 2019 has not been made. Criteria: The Corporation is required to deposit surplus cash into a residual receipts account. Cause: The project had insufficient cash in 2019, 2020, 2021, and 2022 and was not able to make the deposit. During 2022, management consulted with HUD for a resolution. No resolution was obtained prior to June 30, 2022. Effect: The residual receipts account is underfunded by $22,643. Repeat Finding: Yes, reported as 2019-001 for the year ended June 30, 2019, 2020-001 for the year ended June 30, 2020, and 2021-001 for the year ended June 30, 2021. Recommendation: We recommend that management consult with their HUD representative for a remedy, or make the required deposit. Reporting Views of Responsible Officials: We will continue to pursue an acceptable solution with our HUD representative.
Section III - Federal Award Findings and Questioned Costs Finding Number: 2022-001 Information on Universe and Population Size: N/ASample Size Information: N/A Questioned Costs: $0 Statement of Condition: The residual receipts deposit required to be made in fiscal year 2019 has not been made. Criteria: The Corporation is required to deposit surplus cash into a residual receipts account. Cause: The project had insufficient cash in 2019, 2020, 2021, and 2022 and was not able to make the deposit. During 2022, management consulted with HUD for a resolution. No resolution was obtained prior to June 30, 2022. Effect: The residual receipts account is underfunded by $22,643. Repeat Finding: Yes, reported as 2019-001 for the year ended June 30, 2019, 2020-001 for the year ended June 30, 2020, and 2021-001 for the year ended June 30, 2021. Recommendation: We recommend that management consult with their HUD representative for a remedy, or make the required deposit. Reporting Views of Responsible Officials: We will continue to pursue an acceptable solution with our HUD representative.
Section III - Federal Award Findings and Questioned Costs Finding Number: 2022-001 Information on Universe and Population Size: N/ASample Size Information: N/A Questioned Costs: $0 Statement of Condition: The residual receipts deposit required to be made in fiscal year 2019 has not been made. Criteria: The Corporation is required to deposit surplus cash into a residual receipts account. Cause: The project had insufficient cash in 2019, 2020, 2021, and 2022 and was not able to make the deposit. During 2022, management consulted with HUD for a resolution. No resolution was obtained prior to June 30, 2022. Effect: The residual receipts account is underfunded by $22,643. Repeat Finding: Yes, reported as 2019-001 for the year ended June 30, 2019, 2020-001 for the year ended June 30, 2020, and 2021-001 for the year ended June 30, 2021. Recommendation: We recommend that management consult with their HUD representative for a remedy, or make the required deposit. Reporting Views of Responsible Officials: We will continue to pursue an acceptable solution with our HUD representative.