Finding reference number: #2022-001 Assistance Listing title and number (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing 14.157, 1997 Auditor non-compliance code: J - Unauthorized management fees Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $2,179 Statement of condition # 2022-001: For the year ended June 30, 2022, management fees were overpaid by $2,179. Criteria: In accordance with the PRAC and Regulatory Agreement, management fees collected should be in accordance with HUD Form 3839-B Project Owner's & Management Agent Certification. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement and the Property's operating cash account is underfunded by $2,179. Cause: The management agent did not cap the management fees at $45 per unit per month for residential collections. Recommendation: The management agent should calculate and pay management fees on a monthly basis in accordance with the Management Agent Certification. The management agent should repay $2,179 to the Property's operating cash account. Completion date: September 13, 2022 Management Response: Management agrees with recommendation and repaid the Property on September 13, 2022.
Finding reference number: #2022-001 Assistance Listing title and number (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing 14.157, 1997 Auditor non-compliance code: J - Unauthorized management fees Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $2,179 Statement of condition # 2022-001: For the year ended June 30, 2022, management fees were overpaid by $2,179. Criteria: In accordance with the PRAC and Regulatory Agreement, management fees collected should be in accordance with HUD Form 3839-B Project Owner's & Management Agent Certification. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement and the Property's operating cash account is underfunded by $2,179. Cause: The management agent did not cap the management fees at $45 per unit per month for residential collections. Recommendation: The management agent should calculate and pay management fees on a monthly basis in accordance with the Management Agent Certification. The management agent should repay $2,179 to the Property's operating cash account. Completion date: September 13, 2022 Management Response: Management agrees with recommendation and repaid the Property on September 13, 2022.
Finding reference number: #2022-001 Assistance Listing title and number (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing 14.157, 1997 Auditor non-compliance code: J - Unauthorized management fees Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $2,179 Statement of condition # 2022-001: For the year ended June 30, 2022, management fees were overpaid by $2,179. Criteria: In accordance with the PRAC and Regulatory Agreement, management fees collected should be in accordance with HUD Form 3839-B Project Owner's & Management Agent Certification. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement and the Property's operating cash account is underfunded by $2,179. Cause: The management agent did not cap the management fees at $45 per unit per month for residential collections. Recommendation: The management agent should calculate and pay management fees on a monthly basis in accordance with the Management Agent Certification. The management agent should repay $2,179 to the Property's operating cash account. Completion date: September 13, 2022 Management Response: Management agrees with recommendation and repaid the Property on September 13, 2022.
Finding reference number: #2022-001 Assistance Listing title and number (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing 14.157, 1997 Auditor non-compliance code: J - Unauthorized management fees Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $2,179 Statement of condition # 2022-001: For the year ended June 30, 2022, management fees were overpaid by $2,179. Criteria: In accordance with the PRAC and Regulatory Agreement, management fees collected should be in accordance with HUD Form 3839-B Project Owner's & Management Agent Certification. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement and the Property's operating cash account is underfunded by $2,179. Cause: The management agent did not cap the management fees at $45 per unit per month for residential collections. Recommendation: The management agent should calculate and pay management fees on a monthly basis in accordance with the Management Agent Certification. The management agent should repay $2,179 to the Property's operating cash account. Completion date: September 13, 2022 Management Response: Management agrees with recommendation and repaid the Property on September 13, 2022.