Key Findings from the 2024 Federal Single Audit of the Housing Authority of Okanogan County

The Housing Authority of Okanogan County underwent a federal single audit for the fiscal year ending December 31, 2024. Conducted by Finney, Neill & Company, P.S., this audit assessed the Authority's compliance with federal regulations and the effectiveness of its financial management.

Key Findings

The audit identified several material weaknesses:

• Late Submissions: The Authority failed to submit its 2023 Single Audit Reporting Package and Data Collection Form on time, missing the September 30, 2024 deadline. This was a repeat finding from the previous year.
• Compliance Issues: The Authority's tenant files and program procedures did not fully comply with HUD requirements, affecting documentation and administrative procedures.

Risks Identified

• Financial Management: The late submission of audit reports raises concerns about the Authority's financial management capabilities, potentially jeopardizing federal funding.
• Program Administration: Non-compliance with HUD documentation requirements could lead to penalties or loss of funding for critical housing programs.

Auditor Performance

Finney, Neill & Company, P.S. demonstrated thoroughness in their audit process, identifying repeat findings that highlight ongoing issues within the Authority. Their detailed reporting provides a clear pathway for the Authority to address these weaknesses.

Organizational Impact

The findings from this audit underscore the need for the Housing Authority of Okanogan County to enhance its compliance frameworks and financial reporting processes. Addressing these issues is critical not only for maintaining federal funding but also for ensuring effective service delivery to the community.

Conclusion

The 2024 audit serves as a crucial reminder for the Housing Authority of Okanogan County to prioritize compliance and strengthen its financial management practices. By addressing these findings, the Authority can improve its operational effectiveness and better serve its constituents.