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Riverside Township Public School District
NJ
Cash Management School Nutrition Programs
Purchase Needed Equipment
Purchase Needed Equipment
View Audit 37335
Finding 39943 (2022-001)
Significant Deficiency 2022
Olivet Community Schools
MI
School Nutrition Programs Subrecipient Monitoring Cash Management
OLIVET COMMUNITY SCHOOLS CORRECTIVE ACTION PLAN YEAR ENDED JUNE 30, 2022 Olivet Community Schools respectfully submits the following corrective action plan for the year ended June 30, 2022. Auditor: Maner Costerisan 2425 E. Grand River Ave., Suite 1 Lansing, Michigan 48912 Audit Period: Year ended J...
OLIVET COMMUNITY SCHOOLS CORRECTIVE ACTION PLAN YEAR ENDED JUNE 30, 2022 Olivet Community Schools respectfully submits the following corrective action plan for the year ended June 30, 2022. Auditor: Maner Costerisan 2425 E. Grand River Ave., Suite 1 Lansing, Michigan 48912 Audit Period: Year ended June 30, 2022 District Contact Person: Gail Williams, Business Office Manager The findings from the June 30, 2022 schedule of findings and responses are discussed below. The findings are numbered consistently with the number assigned in the schedule. Finding ? Federal Award Findings and Question Costs Finding 2022-001 Considered a significant deficiency Recommendation: The District should submit and implement a required corrective action plan, for the 2022- 2023 school year that will adequately reduce the food service fund balance. Action to be Taken: Management agrees with the finding and we are in the process of developing a plan to spend down the food service fund balance. Anticipated Completion Date: June 30, 2023
View Audit 37726
Finding 39928 (2022-008)
Significant Deficiency 2022
State of Hawaii, Department of Accounting and General Services
HI
Cash Management Allowable Costs / Cost Principles HUD Housing Programs
2022-008 ? Cash Management (Significant Deficiency) Governor?s Office care of State Department of Budget and Finance AL Number: 21.026 Program Title: Homeowner Assistance Fund Direct Award from: U.S. Department of Treasury Condition Per 31 CFR Part 205, the State must minimize the time betw...
2022-008 ? Cash Management (Significant Deficiency) Governor?s Office care of State Department of Budget and Finance AL Number: 21.026 Program Title: Homeowner Assistance Fund Direct Award from: U.S. Department of Treasury Condition Per 31 CFR Part 205, the State must minimize the time between the drawdown of Federal funds from the Federal government and subsequent disbursement for Federal program purposes. The auditing firm haphazardly tested 3 expenditures of the 7 transactions that occurred in fiscal year 2022 and found that the time between drawdown and disbursement of Federal funds by the State was not minimized. Current Status of Corrective Action Plan Concur. The U.S. Treasury wired Homeowner Assistance Funds (HAF) as a lump sum payment thus B&F did not have to submit a drawdown request to obtain the funds. Since B&F did not have control over the timing of the receipt of the funds, it is unclear how B&F could have complied with the requirement of 31 CFR Part 205 to minimize the timing of the disbursement of the funds. B&F had consulted with the U.S. Treasury on how to best comply with this requirement but has not received a response thus far. Person Responsible Mark K. Anderson, Office of Federal Awards Management, Administrator Anticipated Date of Completion July 1, 2023
View Audit 40897
Finding 39852 (2022-007)
Material Weakness 2022
Western Heights Independent School District No. I-41
OK
Cash Management School Nutrition Programs Internal Control / Segregation of Duties
2022-007 Federal Agency: U.S. Department of Agriculture Pass Thru Entity: Oklahoma State Department of Education Program: Child Nutrition Cluster Assistance Listing: I 0.553 & I 0.555 Grant Period: Year ending June 30, 2022 Recommendation: The auditor recommended that meal counts submitted for reim...
2022-007 Federal Agency: U.S. Department of Agriculture Pass Thru Entity: Oklahoma State Department of Education Program: Child Nutrition Cluster Assistance Listing: I 0.553 & I 0.555 Grant Period: Year ending June 30, 2022 Recommendation: The auditor recommended that meal counts submitted for reimbursement need to agree with supporting documentation. Secondary review procedures should be implemented to verily agreement with claim submission and claims are certified. Action Taken: Director of Child Nutrition will have a secondary person review claim before submitting to state department, to ensure accurate keying of data. Director of Finance will match up the Payment Notice of funds received to the monthly claims, to ensure all funds have been claimed and received. Anticipated Completion Date: May 2023 Responsible Official: Director of Finance
View Audit 45226
Finding 39695 (2022-003)
Material Weakness 2022
Mhccc Housing CORP Iic
IL
HUD Housing Programs Special Tests & Provisions Cash Management
Finding Number:2022-003 Finding: Management did not prepare reconciliations for a portion of the year of residual receipts and reserve for replacement accounts to ensure compliance with program requirements. Management has indicated that due to staff turnover reconciliations were not performed timel...
Finding Number:2022-003 Finding: Management did not prepare reconciliations for a portion of the year of residual receipts and reserve for replacement accounts to ensure compliance with program requirements. Management has indicated that due to staff turnover reconciliations were not performed timely. We recommend management implement timely preparation and review of all cash accounts to ensure proper amounts are deposited into the restricted accounts each year. Corrective Action: The compliance oversight of the Project was maintained by the same individual from the Project's acquisition during 2016 through her retirement in 2022. Due to staffing shortages after the employee's retirement, there was a portion of the year when no review of account reconciliations of the reserve accounts were being completed and reviewed. Management has filled that position and subsequently brought the account reconciliations up-to-date. Anticipated Completion Date: 6/30/2023 Responsible Contact Person: Vice President of Finance
View Audit 37690
Finding 39690 (2022-006)
Significant Deficiency 2022
Cook County, Illinios
IL
Reporting Cash Management
Finding #2022-006: regarding CCH did not comply with the reporting requirements as outlined in the agreement. Cause: The grant agreement received from the City of Chicago was...
Finding #2022-006: regarding CCH did not comply with the reporting requirements as outlined in the agreement. Cause: The grant agreement received from the City of Chicago was executed late and insufficient internal controls were in place to ensure the grant was assigned to the Department?s Grant vouchering tracking schedule to determine when the grant monthly voucher reports are due to the City of Chicago. Corrective Action: The CCH Director of Grant Accounting will establish internal control(s) to ensure all Grant agreements are included in the Department?s Grant vouchering tracking schedule. Anticipated completion of the corrective action will be December 31, 2023.
View Audit 37825
Finding 39688 (2022-010)
Significant Deficiency 2022
Cook County, Illinios
IL
Cash Management Reporting Allowable Costs / Cost Principles § 200.303
Subject: Corrective Action Plan For: Finding 2022-010 Cook County Health would like to respond to the finding related to the Provider Relief Fund {PRF) Phase 2 Reporting. The FY'22 SEFA amount (including both lost revenues and expenditures) for the HRSA PRF Phase 2 Reporting period was $31,163,323...
Subject: Corrective Action Plan For: Finding 2022-010 Cook County Health would like to respond to the finding related to the Provider Relief Fund {PRF) Phase 2 Reporting. The FY'22 SEFA amount (including both lost revenues and expenditures) for the HRSA PRF Phase 2 Reporting period was $31,163,323.35. Cause: The cause of this finding resulted from a misunderstanding of the expense data that was rolling/ inputted in the HRSA portal. The Unreimbursed Expenses line should have been inputted as Other PRF Expenses. CCH Management has instituted the following Corrective Action Plan (CAP) to prevent future occurrence. Corrective Action Plan: To ensure accurate data is reported, CCH has implemented the following corrective action plan: ? Any future HRSA- PRF Audit Portal data submission will require multiple reviews. The review will be led by CCH Finance's Associate Chief Financial Officer to ensure the report is accurate and complete prior to submission. Status - Phase 4 PRF Reporting was reviewed on March 28th, 2023, by the CFO and ACFO prior to submission. ? To buttress this CAP, CCH has created a dedicated GL account code to track all PRF activities - lost revenue, cash disbursed, and expenses incurred. Fully Implemented since - (August 30th, 2022) ? A recurring monthly reconciliation meeting has been instituted to track lost revenues, and expenses that were paid with PRF and not through any other type of assistance. Recurring Monthly Reconciliation Leader- Scott Spencer, Associate Chief Financial Officer. Please note that CCH has not received any PRF funding since January 2022.
View Audit 37825
Finding 39682 (2022-002)
Significant Deficiency 2022
Cook County, Illinios
IL
Special Tests & Provisions Subrecipient Monitoring Allowable Costs / Cost Principles
Findings 2022 ? 002 Emergency Solutions Grant (ESG) Program, Federal Assistance Listing #14.231 Corrective Action Plan: Last year, the ESG program was monitored by the U.S. Departm...
Findings 2022 ? 002 Emergency Solutions Grant (ESG) Program, Federal Assistance Listing #14.231 Corrective Action Plan: Last year, the ESG program was monitored by the U.S. Department of Housing and Urban Development (HUD) local Office. This year, the ESG-Coronavirus (CV) program will be monitored by HUD. The local HUD office is currently working with DPD staff in various technical assistance workshop to prep for an upcoming session. These meetings have occurred since April 2023. At HUD?s request, DPD rewrote various policies and procedures. We are still awaiting HUD?s final approval on the recommended policies and procedures revisions. DPD will be using the revised policies and procedures to monitoring concerns going forward. ESG has a complicated billing structure which includes five (5) different spending areas from which a subrecipient can choose for payment. Unfortunately, the ESG and ESG-CV program includes one (1) dedicated staff person and support from the Deputy. This complicated billing structure forces DPD, to provide an extensive amount of technical assistance to various subrecipients due to incorrect invoice submissions. Many of the subrecipients are understaffed and lack the capacity to bill properly. On various occasions, DPD staff has spent a considerable amount of time assisting subrecipients with preparing request for reimbursements. The amount of technical assistance dedicated towards these efforts will be reduced as a result of ESG ending in December 2023 and a new grant cycle beginning in January 2024. ESG-CV will close permanently in September 2023. Recommendation/corrective action planning will be taken on future grant awards that may have similar compliance requirements. DPD plans to hire new staff to expedite the payment process as well as to provide technical assistance to our subrecipients. With ESG-CV ending in September 2023 and new staff on board, this should reduce the amount of time for processing payment to DPD subrecipients.
View Audit 37825
Finding 39672 (2022-004)
Material Weakness 2022
Westwood Community School District
MI
Questioned Costs Allowable Costs / Cost Principles Cash Management
The District concurs with the finding. The District will implement procedures to ensure compliance with the allowability requirements.
The District concurs with the finding. The District will implement procedures to ensure compliance with the allowability requirements.
View Audit 37977 Questioned Costs: $1
Finding 39658 (2022-001)
Significant Deficiency 2022
Odd Fellows South Oak Building CORP
NE
Questioned Costs HUD Housing Programs Cash Management
Comments on the Finding and Each Recommendation: The required deposit of $66,982, per the December 31, 2021 Computation of Surplus Cash, Distributions and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of fiscal year end. The Regulatory Agreement requires Surpl...
Comments on the Finding and Each Recommendation: The required deposit of $66,982, per the December 31, 2021 Computation of Surplus Cash, Distributions and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of fiscal year end. The Regulatory Agreement requires Surplus Cash, as defined by HUD, to be deposited into a separate Residual Receipts Fund within 90 days of fiscal year end. As a result, the Corporation was not in compliance with the Regulatory Agreement. Management should monitor the Surplus Cash position and make required deposits to the Residual Receipts Fund within 90 days of fiscal year end. Action(s) taken or planned on the finding: Management deposited the $66,982 to the Residual Receipts Fund on May 13, 2022. No further action is required.
View Audit 37823 Questioned Costs: $1
Finding 39655 (2022-001)
Significant Deficiency 2022
Housing Authority of Douglas County
GA
Special Tests & Provisions Allowable Costs / Cost Principles Cash Management
Finding 2022-001 - Special Tests and Provisions, RAD Replacement Reserve - Significant Deficiency, CFDA #14.182 Corrective Action Plan: Will full fund the R4R account in 2023 and going forward as indicated by HUD. Person Responsible: Jennifer Fr...
Finding 2022-001 - Special Tests and Provisions, RAD Replacement Reserve - Significant Deficiency, CFDA #14.182 Corrective Action Plan: Will full fund the R4R account in 2023 and going forward as indicated by HUD. Person Responsible: Jennifer Fralish Anticipated Completion Date: YE 2023 and beyond
View Audit 37897
Finding 39608 (2022-003)
Material Weakness 2022
Friendly House, Inc.
AZ
Internal Control / Segregation of Duties Subrecipient Monitoring Cash Management
2022-003 Cash Management Material Noncompliance Cash Management Material Weakness in Internal Control over Compliance U.S. Department of Health and Human Services Passed-through the Arizona Department of Economic Security Refugee and Entrant Assistance State Administered Federal Financial Assistance...
2022-003 Cash Management Material Noncompliance Cash Management Material Weakness in Internal Control over Compliance U.S. Department of Health and Human Services Passed-through the Arizona Department of Economic Security Refugee and Entrant Assistance State Administered Federal Financial Assistance Listing/CFDA #93.566; ADES18-191650; October 1, 2020 to September 30, 2021 and October 1, 2021 to September 30, 2022 Condition: Eide Bailly LLP (EB) noted that four out of four draw requests did not have adequate support for the class hours included. Management?s Response and Corrective Action Plan: ? Monthly Attendance Report are completed by data specialist using individual teachers? daily rosters. ? The Monthly Attendance Reports are verified by the program manager and corrected if any mistakes are identified. ? Monthly invoices are reviewed, prior to submission, with the Department Manager for additional verification and approval. ? After the student attendance has been reviewed by Program Manager and verified by the Department Manager, a review log is signed off by both the Program Manager and the Department Manager. ? Any changes to either the attendance logs or monthly student attendance will only be made with the authorization of the department manager after data has been verified, with an explanation of why that was needed. ? After the appropriate verifications have taken place, the Program Manager creates the monthly invoice, they will maintain and verify documentation for the student attendance hours reflected on the invoice. ? Management will continue to discuss and explore ways to strengthen our current internal controls, including, purchasing tracking software and/or the creation of a google form/document. ? Management will routinely review and consider any needed modifications to or implementation of new policies and procedures that would strengthen internal controls surrounding the invoicing process, record-keeping, and the management thereof. Contact Person: Jose J. Vaquera, VP of Client Services Anticipated Completion Date: May 15, 2023
View Audit 37105
Finding 39599 (2022-005)
Material Weakness 2022
School District of Webster
WI
Cash Management Reporting
The District will develop and implement appropriate controls to ensure accurate and timely reporting of meals served. Management will review the controls put in place on a bi-monthly basis and make any necessary changes if determined necessary. This finding will be resolved as of the date of this re...
The District will develop and implement appropriate controls to ensure accurate and timely reporting of meals served. Management will review the controls put in place on a bi-monthly basis and make any necessary changes if determined necessary. This finding will be resolved as of the date of this report.
View Audit 37464
Finding 39587 (2022-002)
Significant Deficiency 2022
Lima Ecumenical Housing Corporation Dba Pilgrim Place Apts 043-11199
OH
Questioned Costs HUD Housing Programs Cash Management
Comments on the Finding and Each Recommendation: The required deposit of $15,276, per the July 31, 2021 Computation of Surplus Cash, Distributions and Residual Receipts, was not deposited into the residual receipts fund within 90 days of fiscal year end. The Regulatory Agreement requires Surplus C...
Comments on the Finding and Each Recommendation: The required deposit of $15,276, per the July 31, 2021 Computation of Surplus Cash, Distributions and Residual Receipts, was not deposited into the residual receipts fund within 90 days of fiscal year end. The Regulatory Agreement requires Surplus Cash, as defined by HUD, to be deposited into a separate residual receipts fund within 90 days of the fiscal year end. The Corporation was not in compliance with the Regulatory Agreement. Management should monitor the Surplus Cash position and make required deposits to the residual receipts fund within 90 days of fiscal year end. Action(s) Taken and Planned on the Finding: Management deposited the $15,276 to the residual receipts fund on May 31, 2022. No further action is required.
View Audit 37873 Questioned Costs: $1
Finding 39494 (2022-005)
Significant Deficiency 2022
Population Services International
DC
Procurement, Suspension & Debarment Allowable Costs / Cost Principles Cash Management
2022-005 Allegations of Fraud Contact: Marusya Lazo Title: Vice President Finance Phone Number: 202 235 1880 Estimated Completion Date ? ongoing Corrective Action PSI continuou...
2022-005 Allegations of Fraud Contact: Marusya Lazo Title: Vice President Finance Phone Number: 202 235 1880 Estimated Completion Date ? ongoing Corrective Action PSI continuously manages fraud risk through combination of preventative, detective and monitoring controls, and reinforces PSI?s expectations regarding ethical behavior through training and communications. PSI will continue to proactively report and investigate allegations of fraud and to raise awareness of the actions to be taken when there is s suspicion of fraud. PSI Global Internal Audit and Investigations team will continue to share lessons learned from the work performed and. Given the challenging operating environments in which PSI implements its programs, there is an ongoing risk of fraud, which PSI will continue to monitor, investigate, and mitigate.
View Audit 46560
Finding 39483 (2022-004)
Significant Deficiency 2022
School District of Colby
WI
Questioned Costs Cash Management Matching / Level of Effort / Earmarking
2022-004 ? Education Stabilization Fund ? Prevailing wage rate requirements Criteria: Wage rate requirements apply to the Education Stabilization Fund when laborers and mechanics employed by contractors or subcontractors work on construction contracts more than $2,000. Laborers must be paid wages ...
2022-004 ? Education Stabilization Fund ? Prevailing wage rate requirements Criteria: Wage rate requirements apply to the Education Stabilization Fund when laborers and mechanics employed by contractors or subcontractors work on construction contracts more than $2,000. Laborers must be paid wages not less than those established for the locality of the project (prevailing wage rates) by the Department of Labor (DOL). Nonfederal entities shall include in their contracts, subject to wage rate requirements, a provision that the contractor or subcontractor comply with those requirements and the DOL regulations. This includes a requirement for the contractor or subcontractor to submit to the District weekly payrolls and a statement of compliance (certified payrolls). Condition: There was one Education Stabilization Fund construction project performed by a subcontractor. Grant expenditures for the project paid by the Education Stabilization Fund totaled $263,826. There was not a prevailing wage clause in the contract and certified payrolls were not received. Cause: The District was not aware that wage rate requirements applied to the construction project until after it was completed. The District did verify that prevailing wage rates were paid by the contractor during the project; however, they did not obtain certified payrolls. Effect: A reimbursement request was made for expenditures that did not comply with wage rate requirements. Questioned Costs: $263,826 Auditor?s Recommendation: Establish controls to comply with wage rate requirements related to the Education Stabilization Fund. Grantee Response: The District will comply with the wage rate requirements for the Education Stabilization Fund going forward. Contact Person: Brian Zaleski Anticipated Completion: June 30, 2023
View Audit 45766 Questioned Costs: $1
Montgomery Park I United Methodist Housing
VA
Cash Management HUD Housing Programs
Name of Contact Person: Samuel A. Jones, President, Amurcon Realty Co., Managing Agent Corrective Action: Residual receipts were not remitted to the residual receipts account in a timely manner. Residual receipts are required to be remitted within 60 days of year-end. In order to avoid this issue i...
Name of Contact Person: Samuel A. Jones, President, Amurcon Realty Co., Managing Agent Corrective Action: Residual receipts were not remitted to the residual receipts account in a timely manner. Residual receipts are required to be remitted within 60 days of year-end. In order to avoid this issue in the future, surplus cash will be calculated prior to the audit. Proposed Completion Date: This plan was implemented on September 30, 2022, and will be used for all audits going forward.
View Audit 43829
Frederick United Methodist Housing Development Corporation
VA
Cash Management HUD Housing Programs
Name of Contact Person: Samuel A. Jones, President, Amurcon Realty Co., Managing Agent Corrective Action: Residual receipts were not remitted to the residual receipts account in a timely manner. Residual receipts are required to be remitted within 60 days of year-end. In order to avoid this issue i...
Name of Contact Person: Samuel A. Jones, President, Amurcon Realty Co., Managing Agent Corrective Action: Residual receipts were not remitted to the residual receipts account in a timely manner. Residual receipts are required to be remitted within 60 days of year-end. In order to avoid this issue in the future, surplus cash will be calculated prior to the audit. Proposed Completion Date: This plan was implemented on September 30, 2022, and will be used for all audits going forward.
View Audit 43823
Finding 39296 (2022-004)
Significant Deficiency 2022
Florence School District
WI
Procurement, Suspension & Debarment Allowable Costs / Cost Principles Cash Management
Federal Grants Management/Financial Management System Recommendation: The District will assess its financial management systems and related internal controls. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action planned/taken in response to finding...
Federal Grants Management/Financial Management System Recommendation: The District will assess its financial management systems and related internal controls. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action planned/taken in response to finding: District personnel will assess existing policies and procedures and determine where new policies should be created or amended and communicate these policies to Administration and employees. Names of the contract person(s) responsible for corrective action: Karl Morrin, District Administrator; Jen Steber, Finance Manager Planned completion date for corrective action plan: June 30, 2023
View Audit 37583
Finding 39274 (2022-002)
Material Weakness 2022
Momence Community Schools Unit District No. 1
IL
Cash Management Reporting Internal Control / Segregation of Duties § 200.328
The district will implement a system of internal controls over grant expenditure reporting and allocate adequate resources to ensure that all eligible grant expenditures are appropriately submitted for reimbursement in a timely manner. Anticipated Completion Date: As n...
The district will implement a system of internal controls over grant expenditure reporting and allocate adequate resources to ensure that all eligible grant expenditures are appropriately submitted for reimbursement in a timely manner. Anticipated Completion Date: As necessary Contact: Shannon Anderson, Superintendent, Momence CUSD1
View Audit 38063
Finding 39053 (2022-005)
Significant Deficiency 2022
Converge, Inc.
MS
Allowable Costs / Cost Principles Cash Management Reporting
Management agrees with the finding. The Organization is implementing a new Payroll and Human Resources system. This single system will house the data for both time allocations and payroll data, giving the Organization the ability to run reports with accurate hours and compensation allocated to spec...
Management agrees with the finding. The Organization is implementing a new Payroll and Human Resources system. This single system will house the data for both time allocations and payroll data, giving the Organization the ability to run reports with accurate hours and compensation allocated to specific grants for any period. This system will report in real time and account for salary increases as well.
View Audit 36881
Finding 39050 (2022-002)
Material Weakness 2022
Converge, Inc.
MS
Questioned Costs Allowable Costs / Cost Principles Cash Management
Management agrees with the finding. The Organization has implemented a new reporting and approval process for submissions through the Payment Management System: ? A Detailed Statement of Activity is generated by the Director of Finance as soon as it is determined all revenues and expenditures have b...
Management agrees with the finding. The Organization has implemented a new reporting and approval process for submissions through the Payment Management System: ? A Detailed Statement of Activity is generated by the Director of Finance as soon as it is determined all revenues and expenditures have been recorded for the month. ? Report is reviewed and approved by Co-Executive Director. ? Director of Finance submits the reports in PMS and requests reimbursement. The Organization has hired a new Director of Finance with extensive experience in non-profit accounting.
View Audit 36881 Questioned Costs: $1
Finding 38983 (2022-003)
Material Weakness 2022
Romulus Community Schools
MI
Cash Management Material Weakness
Finding: 2022-003? Cash Management (repeat) Auditor Description of Condition and Effect: During our audit procedures over the District?s cash management process, we noted that one of the claim requests selected for testing did not agree to the District?s actual meal counts. As a result of this con...
Finding: 2022-003? Cash Management (repeat) Auditor Description of Condition and Effect: During our audit procedures over the District?s cash management process, we noted that one of the claim requests selected for testing did not agree to the District?s actual meal counts. As a result of this condition, the District does not have proper controls in place over its procedures for submission of claim requests. Auditor Recommendation: The District should establish procedures to ensure that the number of meals being submitted for reimbursement agrees to the actual meal counts. Corrective Action: The District implemented review and approval changes in March 2022 to correct this prior year finding. The process that the District uses currently allows for the correction of errors on meal claims before submission. Responsible Person: Shelbi Frayer, Contracted Finance Director Anticipated Completion Date: June 30, 2022
View Audit 44538
St Camillus Residential Health Care Facility
NY
Cash Management HUD Housing Programs
calculation. Recommendation: The Facility should recompute surplus cash ensuring CARES Act program cash is captured in the calculation and deposit the surplus cash into their residual receipts account. Action Taken: The Facility will update its computation and the owner-certified 2022 Annual Financi...
calculation. Recommendation: The Facility should recompute surplus cash ensuring CARES Act program cash is captured in the calculation and deposit the surplus cash into their residual receipts account. Action Taken: The Facility will update its computation and the owner-certified 2022 Annual Financial Statement submission. Surplus cash will be deposited into the project?s residual receipts account as soon as practicable.
View Audit 44340
Finding 38902 (2022-001)
Significant Deficiency 2022
Marion Senior Living, Inc.
NE
Questioned Costs HUD Housing Programs Cash Management
Finding #2022-001: Comments on the Finding and Each Recommendation: The required deposit of $16,084, per the June 30, 2021 Computation of Surplus Cash, Distributions and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of the fiscal year end. The Regulatory Agreeme...
Finding #2022-001: Comments on the Finding and Each Recommendation: The required deposit of $16,084, per the June 30, 2021 Computation of Surplus Cash, Distributions and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of the fiscal year end. The Regulatory Agreement requires Surplus Cash, as defined by HUD, to be deposited into a separate Residual Receipts Fund within 90 days of the fiscal year end. The Corporation was not in compliance with the Regulatory Agreement. Management should monitor the Surplus Cash position and make required deposits to the Residual Receipts Fund within 90 days of fiscal year end. Action(s) Taken or Planned on the Finding: Management deposited the $16,084 to the Residual Receipts Fund on March 31, 2022. The finding is considered cleared.
View Audit 38013 Questioned Costs: $1
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