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Finding 399880 (2023-001)
Significant Deficiency 2023
Housing Authority of the City of Beaumont
TX
Questioned Costs HUD Housing Programs Eligibility
Finding 2023-001: Federal Agency: U.S. Department of Housing and Urban Development Federal Program Titles: Section 8 Housing Choice Vouchers Program Federal Catalog Numbers: 14.871 Noncompliance – E. Eligibility – Tenant Files Non Compliance Material to the Financial Statements: No Significant...
Finding 2023-001: Federal Agency: U.S. Department of Housing and Urban Development Federal Program Titles: Section 8 Housing Choice Vouchers Program Federal Catalog Numbers: 14.871 Noncompliance – E. Eligibility – Tenant Files Non Compliance Material to the Financial Statements: No Significant Deficiency in Internal Control over Compliance for Eligibility Criteria: Tenant Files. The PHA must do the following: As a condition of admission or continued occupancy, require the tenant and other family member to provide necessary information, documentation, and releases for the PHA to verify income eligibility (24 CFR sections 5.230, 5.609, and 982.516). These files are required to be maintained and available for examination at the time of audit. Condition: Based upon inspection of the Authority’s files and on discussion with management, there were documents that were unavailable for examination at the time of audit. Context: There are approximately 1,782 units. Of a sample size of thirty-one (31) tenant files, the following was noted: • HUD 50058 Form was missing in 1 file • Verification of income and assets was missing in 1 file. Our sample size is statistically valid. Cause: There is a significant deficiency in internal controls over the compliance for the eligibility type of compliance related to the maintenance of tenant files. The Authority has not properly considered, designed, implemented, maintained and monitored a system of internal controls that assures the program is in compliance. Effect: The Section 8 Housing Choice Vouchers Program is in non-compliance with the eligibility type of compliance related to the maintenance of tenant files. Recommendation: We recommend the Authority design and implement internal control procedures that will assure compliance with the Uniform Guidance and the compliance supplement. Views of responsible officials and planned corrective action: The Authority accepts the recommendation of the auditor. The affected files relate to clients that have been on the program for decades and as files get large, archiving takes place. To correct this finding, a directive will be issued to staff that will ensure that when files are archived the original application must be placed in the current working file going forward. Allison Landrum, Chief Executive Officer, is responsible for implementing this corrective action by September 30, 2024.
View Audit 308006 Questioned Costs: $1
Milford Redevelopment and Housing Partnership
CT
HUD Housing Programs Reporting
Upon abrupt departure of second finance director replacement in November 2023, the Authority promptly re-hired staff with extensive knowledge in the Authority's programs and systems to correct issues that occurred prior to the departure of the finance director. In addition, the Authority increase...
Upon abrupt departure of second finance director replacement in November 2023, the Authority promptly re-hired staff with extensive knowledge in the Authority's programs and systems to correct issues that occurred prior to the departure of the finance director. In addition, the Authority increased the role of the fee accountant to address the items noted during the audit. Responsible Party for Corrective Actions: Anthony Vasiliou, Executive Director Estimated Completion Date: December 29, 2023.
View Audit 307992
Finding 399842 (2023-002)
Significant Deficiency 2023
Eastwick Section 811 Housing Corporation
PA
Questioned Costs HUD Housing Programs Subrecipient Monitoring
Views of Responsible Officials and Planned Corrective Actions: The deposits will be made as cash flows permits. The collection of tenant receivables and subsidy payments will improve as new property management team stabilizes operations by reducing turnover and increasing use of new property managem...
Views of Responsible Officials and Planned Corrective Actions: The deposits will be made as cash flows permits. The collection of tenant receivables and subsidy payments will improve as new property management team stabilizes operations by reducing turnover and increasing use of new property management system once fully implemented.
View Audit 307940 Questioned Costs: $1
Finding 399841 (2023-001)
Material Weakness 2023
Eastwick Section 811 Housing Corporation
PA
HUD Housing Programs Subrecipient Monitoring Eligibility
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property m...
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property management team. Going forward the Inglis Compliance department will sufficiently sample and review tenant files throughout year to assure tenant files are accurate and audit ready at any given time. Inglis Housing Corporation hired new a new property management Executive Director in August 2023. Under her leadership the team has made extensive progress updating and bringing all PRACs, tenant recertifications, and tenant files into compliance. There has been in depth training for the property management team on the usage of a newly implemented property management system. All staff have or will attend external training classes for tax credit and HUD property management functions. The property management team is working on reviewing and updating all tenant files with a goal of being in compliance for the June 30, 2024 audit.
View Audit 307940
Finding 399840 (2023-002)
Significant Deficiency 2023
Eastwick II Section 811 Housing Corporation
PA
Questioned Costs HUD Housing Programs Subrecipient Monitoring
Views of Responsible Officials and Planned Corrective Actions: The deposits will be made as cash flow permits. The collection of tenant receivables and subsidy payments will improve as new property management team stabilizes operations by reducing turnover and increasing use of new property manageme...
Views of Responsible Officials and Planned Corrective Actions: The deposits will be made as cash flow permits. The collection of tenant receivables and subsidy payments will improve as new property management team stabilizes operations by reducing turnover and increasing use of new property management system once fully implemented.
View Audit 307939 Questioned Costs: $1
Finding 399839 (2023-001)
Material Weakness 2023
Eastwick II Section 811 Housing Corporation
PA
HUD Housing Programs Subrecipient Monitoring Eligibility
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property m...
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property management team. Going forward the Inglis Compliance department will sufficiently sample and review tenant files throughout year to assure tenant files are accurate and audit ready at any given time. Inglis Housing Corporation hired new a new property management Executive Director in August 2023. Under her leadership the team has made extensive progress updating and bringing all PRACs, tenant recertifications, and tenant files into compliance. There has been in depth training for the property management team on the usage of a newly implemented property management system. All staff have or will attend external training classes for tax credit and HUD property management functions. The property management team is working on reviewing and updating all tenant files with a goal of being in compliance for the June 30, 2024 audit.
View Audit 307939
Finding 399837 (2023-001)
Material Weakness 2023
Washington Lane Section 811 Housing Corporation
PA
HUD Housing Programs Subrecipient Monitoring Eligibility
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property m...
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property management team. Going forward the Inglis Compliance department will sufficiently sample and review tenant files throughout year to assure tenant files are accurate and audit ready at any given time. Inglis Housing Corporation hired new a new property management Executive Director in August 2023. Under her leadership the team has made extensive progress updating and bringing all PRACs, tenant recertifications, and tenant files into compliance. There has been in depth training for the property management team on the usage of a newly implemented property management system. All staff have or will attend external training classes for tax credit and HUD property management functions. The property management team is working on reviewing and updating all tenant files with a goal of being in compliance for the June 30, 2024 audit.
View Audit 307938
Finding 399836 (2023-002)
Significant Deficiency 2023
Evesham Section 811 Housing Corporation
PA
Questioned Costs HUD Housing Programs Subrecipient Monitoring
Views of Responsible Officials and Planned Corrective Actions: The deposits will be made as cash flows permits. The collection of tenant receivables and subsidy payments will improve as new property management team stabilizes operations by reducing turnover and increasing use of new property managem...
Views of Responsible Officials and Planned Corrective Actions: The deposits will be made as cash flows permits. The collection of tenant receivables and subsidy payments will improve as new property management team stabilizes operations by reducing turnover and increasing use of new property management system once fully implemented.
View Audit 307937 Questioned Costs: $1
Finding 399835 (2023-001)
Material Weakness 2023
Evesham Section 811 Housing Corporation
PA
HUD Housing Programs Subrecipient Monitoring Eligibility
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property m...
Views of Responsible Officials and Planned Corrective Actions: Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property management team. Going forward the Inglis Compliance department will sufficiently sample and review tenant files throughout year to assure tenant files are accurate and audit ready at any given time. Inglis Housing Corporation hired new a new property management Executive Director in August 2023. Under her leadership the team has made extensive progress updating and bringing all PRACs, tenant recertifications, and tenant files into compliance. There has been in depth training for the property management team on the usage of a newly implemented property management system. All staff have or will attend external training classes for tax credit and HUD property management functions. The property management team is working on reviewing and updating all tenant files with a goal of being in compliance for the June 30, 2024 audit.
View Audit 307937
Finding 399828 (2023-001)
Material Weakness 2023
Germantown Section 811 Housing Corporation
PA
HUD Housing Programs Subrecipient Monitoring Eligibility
Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property management team. Going forward the Inglis Compliance department ...
Staffing turnover limited ability for portfolio property managers to effectively manage tenant files at each building location. Historically, the management and auditing of tenant files was entirely under the process flows for property management team. Going forward the Inglis Compliance department will sufficiently sample and review tenant files throughout year to assure tenant files are accurate and audit ready at any given time. Inglis Housing Corporation hired new a new property management Executive Director in August 2023. Under her leadership the team has made extensive progress updating and bringing all PRACs, tenant recertifications, and tenant files into compliance. There has been in depth training for the property management team on the usage of a newly implemented property management system. All staff have or will attend external training classes for tax credit and HUD property management functions. The property management team is working on reviewing and updating all tenant files with a goal of being in compliance for the June 30, 2024 audit.
View Audit 307934
Finding 399827 (2023-007)
Material Weakness 2023
New Rochelle Municipal Housing Authority
NY
Questioned Costs HUD Housing Programs Subrecipient Monitoring
inding 2023-007: lnterfund Balance Corrective Action: The software conversion to PHA-Web caused tremendous confusion and along with the inexperience of the prior fee accountants. This will be researched and corrected during FY 2024. Date Due: 6/30/2024 Person Responsible: Angela Farrish
inding 2023-007: lnterfund Balance Corrective Action: The software conversion to PHA-Web caused tremendous confusion and along with the inexperience of the prior fee accountants. This will be researched and corrected during FY 2024. Date Due: 6/30/2024 Person Responsible: Angela Farrish
View Audit 307928 Questioned Costs: $1
Finding 399378 (2023-004)
Significant Deficiency 2023
Albuquerque Housing Authority
NM
HUD Housing Programs Significant Deficiency
Management provided additional staff training on file compliance.
Management provided additional staff training on file compliance.
View Audit 307880
Finding 399330 (2023-004)
Significant Deficiency 2023
Tarrant County B'nai B'rith Housing Corporation
TX
HUD Housing Programs Reporting Internal Control / Segregation of Duties § 200.512
Comments on Finding and Recommendations: We concur that our required financial filings were not made timely with HUD. We agree with the auditor’s recommendations. Planned Corrective Action: We will follow the HUD filing requirements of the regulatory agreement going forward. The financial statement...
Comments on Finding and Recommendations: We concur that our required financial filings were not made timely with HUD. We agree with the auditor’s recommendations. Planned Corrective Action: We will follow the HUD filing requirements of the regulatory agreement going forward. The financial statements for the year ended April 30, 2023 have not been submitted electronically to HUD.
View Audit 307803
Finding 399326 (2023-002)
Significant Deficiency 2023
Tarrant County B'nai B'rith Housing Corporation
TX
HUD Housing Programs
Comments on Finding and Recommendations: We concur that a process control to ensure the automatic transfer of deposits from the operating account to the replacements reserve on a monthly basis was not in place. We agree with the auditor’s recommendations. Planned Corrective Action: As of the date ...
Comments on Finding and Recommendations: We concur that a process control to ensure the automatic transfer of deposits from the operating account to the replacements reserve on a monthly basis was not in place. We agree with the auditor’s recommendations. Planned Corrective Action: As of the date of this letter, management has implemented a control to ensure the monthly transfer is completed automatically and in accordance with the Regulatory Agreement.
View Audit 307803
The Pinemont Apartments, Inc.
TX
HUD Housing Programs Procurement, Suspension & Debarment Reporting
The shortfall of $26 was deposited to the reserve for replacement on May 10, 2024. In the future, we will ensure that the proper monthly deposits are made to the reserve for replacement account.
The shortfall of $26 was deposited to the reserve for replacement on May 10, 2024. In the future, we will ensure that the proper monthly deposits are made to the reserve for replacement account.
View Audit 307684
The Pinemont Apartments, Inc.
TX
HUD Housing Programs Procurement, Suspension & Debarment Reporting
The financial statements were submitted to HUD's Real Estate Assessment Center on May 6, 2024. In the future, we will ensure that the financial statements are submitted by the March 31 deadline.
The financial statements were submitted to HUD's Real Estate Assessment Center on May 6, 2024. In the future, we will ensure that the financial statements are submitted by the March 31 deadline.
View Audit 307684
Finding 399002 (2023-001)
Significant Deficiency 2023
Quaker Heights LLC
OH
HUD Housing Programs Internal Control / Segregation of Duties Procurement, Suspension & Debarment
Condition: The Company failed to abide by the regulatory agreement criteria by not maintaining a project operating account and depositing receipts for rents within the account. Planned Corrective Action: The Corporation was not in compliance with regulatory agreement guidelines as of June 30, 2023,...
Condition: The Company failed to abide by the regulatory agreement criteria by not maintaining a project operating account and depositing receipts for rents within the account. Planned Corrective Action: The Corporation was not in compliance with regulatory agreement guidelines as of June 30, 2023, and management will follow HUD's guidelines in the future. Contact person responsible for corrective action: Bob Stillman, CFO Anticipated Completion Date: 10/31/2023
View Audit 307614
Finding 398974 (2023-002)
Significant Deficiency 2023
Steel Founders' Society of America
IL
Procurement, Suspension & Debarment Eligibility HUD Housing Programs
Procurement Recommendation: We recommend that the Organization follow the current policies and procedures over covered transactions and to maintain supporting documentation of the process. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action ta...
Procurement Recommendation: We recommend that the Organization follow the current policies and procedures over covered transactions and to maintain supporting documentation of the process. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The Society has reviewed the procurement policy with staff, emphasized the importance of following, and will ensure that adequate documentation is retained. Name(s) of the contact person(s) responsible for corrective action: Kelly Moritz, Vice President of Finance and Contracts Planned completion date for corrective action plan: December 31, 2024
View Audit 307567
Finding 398751 (2023-001)
Significant Deficiency 2023
Baltimore Regional Housing Partnership, Inc.
MD
Reporting HUD Housing Programs Significant Deficiency
Audit Finding Reference: 2023 - 001 Planned Corrective Action: At this time, all files selected for the audit have corresponding records successfully submitted to the Department of Housing and Urban Development through the PIH Information Center ("PIC") submission portal. BRHP will continue weekly P...
Audit Finding Reference: 2023 - 001 Planned Corrective Action: At this time, all files selected for the audit have corresponding records successfully submitted to the Department of Housing and Urban Development through the PIH Information Center ("PIC") submission portal. BRHP will continue weekly PIC submissions and clearing of fatal errors. The late PIC submissions identified were a result of late 50058 approvals which resulted in late PIC submission. The 50058's were uploaded to PIC within 5 days of the approval. BRHP monitors 50058's related to moves in a weekly leasing report. In addition, BRHP meets biweekly to discuss the report. BRHP will monitor the weekly leasing report to review the lease effective dates to HAP executed dates to ensure the actions are approved timely. Name of Contact Person: FaShaunDa Walton, Housing Mobility Director Anticipated completion date: June 30, 2024
View Audit 307491
Scranton Housing Authority
PA
HUD Housing Programs
V. Action Plan The contact person at the Authority is Karl Lynott, Executive Director Scranton Housing Authority 400 Adams Avenue Scranton, Pennsylvania 18510 Current year findings and questioned costs Finding 2023-001: The Authority reviewed and agrees with the finding related to the abatement of H...
V. Action Plan The contact person at the Authority is Karl Lynott, Executive Director Scranton Housing Authority 400 Adams Avenue Scranton, Pennsylvania 18510 Current year findings and questioned costs Finding 2023-001: The Authority reviewed and agrees with the finding related to the abatement of HAP payments. The Authority has implemented procedures to support the IPA’s recommendation. When a landlord fails to correct HQS deficiencies within thirty calendar days, the housing inspector will notify the Executive Director in writing by copying the Executive Director on the letter currently sent to the landlord and tenant notifying them of termination from the program. The Executive Director will then verify with the Section 8 Coordinator that no HAP check is being sent to the landlord for the failed property. Regarding the audit finding in question, the landlord has paid back the money owed to the Authority.
View Audit 307329
Finding 398563 (2023-001)
Significant Deficiency 2023
The Maples Housing Corporation
MO
HUD Housing Programs Reporting Significant Deficiency
CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2023 Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Subpart F, Section 511 – Audit Findings Follow-up requires the auditee t...
CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2023 Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Subpart F, Section 511 – Audit Findings Follow-up requires the auditee to prepare a corrective action plan to address each audit finding included in the current year auditor’s reports. The Corrective Action Plan for Current Year Findings present our corrective action plan for the Financial Statement and/or Federal Award Findings described in the accompanying Schedule of Findings and Questioned Costs for the period ended December 31, 2023. Finding 2023-001 Responsible Party: Name: Rodney Potter Position: Assistant Executive Director Telephone Number: (816) 364-3827 Federal Agency U.S. Department of Housing and Urban Development Federal Program Supportive Housing for Persons with Disabilities – Section 811 Compliance Requirements N – Special Tests and Provisions Finding Type Federal Awards Auditee’s Comments on Finding The Maples Housing Corporation agrees with the auditors’ finding and recommendation. Corrective Action(s) We will adopt a policy to ensure tenants requesting maintenance of property via work orders is being maintained properly and efficiently in the work order system and we will review the accuracy / completeness of the documentation being processed in the work order system on a quarterly basis. Anticipated Completion Date July 31, 2024
View Audit 307274
Finding 398562 (2023-002)
Significant Deficiency 2023
Keystone Place Housing Corporation
MO
Questioned Costs HUD Housing Programs Reporting
CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2023 Finding 2023-002 Responsible Party: Name: Rodney Potter Position: Assistant Executive Director Telephone Number: (816) 364-3827 Federal Agency U.S. Department of Housing and Urban Development Federal Program Supportive Housing fo...
CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2023 Finding 2023-002 Responsible Party: Name: Rodney Potter Position: Assistant Executive Director Telephone Number: (816) 364-3827 Federal Agency U.S. Department of Housing and Urban Development Federal Program Supportive Housing for Persons with Disabilities – Section 811 Compliance Requirements N – Special Tests and Provisions Finding Type Financial Statements and Federal Awards Auditee’s Comments on Finding The Maples Housing Corporation agrees with the auditors’ finding and recommendation. Corrective Action(s) We will ensure a current and approved HUD Form 9839-B is on file. The form was submitted to HUD for approval on March 22, 2023 and approval not received to-date. Anticipated Completion Date July 31, 2024 Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Subpart F, Section 511 – Audit Findings Follow-up requires the auditee to prepare a corrective action plan to address each audit finding included in the current year auditor’s reports. The Corrective Action Plan for Current Year Findings present our corrective action plan for the Financial Statement and/or Federal Award Findings described in the accompanying Schedule of Findings and Questioned Costs for the period ended December 31, 2023.
View Audit 307273 Questioned Costs: $1
Finding 398561 (2023-001)
Significant Deficiency 2023
Keystone Place Housing Corporation
MO
HUD Housing Programs Reporting Significant Deficiency
CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2023 Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Subpart F, Section 511 – Audit Findings Follow-up requires the auditee ...
CORRECTIVE ACTION PLAN FOR THE YEAR ENDED DECEMBER 31, 2023 Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Subpart F, Section 511 – Audit Findings Follow-up requires the auditee to prepare a corrective action plan to address each audit finding included in the current year auditor’s reports. The Corrective Action Plan for Current Year Findings present our corrective action plan for the Financial Statement and/or Federal Award Findings described in the accompanying Schedule of Findings and Questioned Costs for the period ended December 31, 2023. Finding 2023-001 Responsible Party: Name: Rodney Potter Position: Assistant Executive Director Telephone Number: (816) 364-3827 Federal Agency U.S. Department of Housing and Urban Development Federal Program Supportive Housing for Persons with Disabilities – Section 811 Compliance Requirements N – Special Tests and Provisions Finding Type Federal Awards Auditee’s Comments on Finding The Maples Housing Corporation agrees with the auditors’ finding and recommendation. Corrective Action(s) We will adopt a policy to ensure tenants requesting maintenance of property via work orders is being maintained properly and efficiently in the work order system and we will review the accuracy / completeness of the documentation being processed in the work order system on a quarterly basis. Anticipated Completion Date July 31, 2024
View Audit 307273
Finding 398557 (2023-002)
Significant Deficiency 2023
The Housing and Redevelopment Commission of the City of Aberdeen, Sd
SD
HUD Housing Programs Reporting Significant Deficiency
Finding Summary: The Commission does not have a review process in place to ensure that a person other than the person who prepares the reports for submission review the reports for accuracy for the monthly VMS submission and yearly unaudited REAC submission. Responsible Individuals: Brett Bill, Exec...
Finding Summary: The Commission does not have a review process in place to ensure that a person other than the person who prepares the reports for submission review the reports for accuracy for the monthly VMS submission and yearly unaudited REAC submission. Responsible Individuals: Brett Bill, Executive Director Corrective Action Plan: Based on continued turnover in the accounting and finance departments, the review process was not able to be put into action. We have developed the process to ensure a review will occur prior to reports being submitted to HUD on a monthly or annual basis. Anticipated Completion Date: 6/1/2024
View Audit 307267
First Housing Corporation D/b/a Cathedral Manor
CT
HUD Housing Programs Reporting Matching / Level of Effort / Earmarking
3. Finding 2023-002 - Major Federal Award Programs Audit a. Comments on the Finding and Recommendation We concur with the auditors finding as follows: During the years ended July 31, 2019, 2020, 2021, 2022 and 2023 management did not repay the loan advanced from the reserve for replacements upon re...
3. Finding 2023-002 - Major Federal Award Programs Audit a. Comments on the Finding and Recommendation We concur with the auditors finding as follows: During the years ended July 31, 2019, 2020, 2021, 2022 and 2023 management did not repay the loan advanced from the reserve for replacements upon receipt of the Section 8 subsidy that was outstanding at July 31, 2018. The loan in the amount of $19,337 is deemed to be an unauthorized distribution. The amount due to the reserve for replacement has not been deposited as of the date of this report. b. Action(s) Taken or Planned on the Finding 2 Commencing in March 2024, a repayment plan has been put in place of four monthly installment payments to be made in the amount of $4,834.25 until the balance is paid in full.
View Audit 307266
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