FAC Explorer

Corrective Action Plans

Browse how organizations respond to audit findings

Total CAPs
61,809
In database
Filtered Results
23,815
Matching current filters
Showing Page
403 of 953
25 per page

Filters

Clear
Active filters: Questioned Costs
Finding 559271 (2023-002)
Significant Deficiency 2023
Foundation for Democratic Development
DC
Reporting Questioned Costs
2022-003 Reporting Federal Program – All federal programs Criteria – The data collection form must be completed and submitted within nine months of the Organization’s fiscal year end. Condition and Context – As a result of a conversion to a new accounting system, the impact of COVID-19, and reco...
2022-003 Reporting Federal Program – All federal programs Criteria – The data collection form must be completed and submitted within nine months of the Organization’s fiscal year end. Condition and Context – As a result of a conversion to a new accounting system, the impact of COVID-19, and reconciliation differences, the data collection form was not timely submitted for the year ended December 31, 2023. Questioned Costs – None. Effect – The Organization was not in compliance with the Uniform Guidance reporting requirements. Cause – With the conversion to a new accounting system, combined with the COVID-19, new accounting staff and reconciliation differences, the data collection form could not be timely completed and submitted. Recommendation – The financial records of the Organization should be reconciled and closed shortly after year-end, which will permit the timely submission of the data collection form. Views of Responsible Officials and Planned Corrective Actions Management agrees with this finding. We will anticipate being able to comply with this requirement effective with the FY2024 audit. Anticipated Completion Date: The financial records for the year ended December 31, 2024, will be reconciled and closed, permitting the audited financial statements, financial reporting package and data collection form to be filed timely by September 30, 2025. Contact Person: Natalia Arno, President, 916-849-3057
View Audit 355515
Finding 559071 (2023-002)
Material Weakness 2023
Manhattan Housing Authoirty
KS
HUD Housing Programs Questioned Costs Special Tests & Provisions
Authority Response and Planned Corrective Action: The Authority accepts the recommendation of the auditor. The Authority will increase oversight in the Section 8 Housing Choice Vouchers Program to ensure that established internal control policies are being followed on a timely basis. Aaron Estabroo...
Authority Response and Planned Corrective Action: The Authority accepts the recommendation of the auditor. The Authority will increase oversight in the Section 8 Housing Choice Vouchers Program to ensure that established internal control policies are being followed on a timely basis. Aaron Estabrook, Executive Director, is responsible for implementing this corrective action by December 31, 2024.
View Audit 355357 Questioned Costs: $1
Foothill House of Hospitality
CA
Questioned Costs Reporting
page 32 - Findings and Questioned Costs - Major Federal Program Audit Condition: The Organization has experienced significant delays in the preparation and issuance of the May 31, 2023, financial statements and its Single Audit required under the Uniform Guidance. Action: HH has provided the necessa...
page 32 - Findings and Questioned Costs - Major Federal Program Audit Condition: The Organization has experienced significant delays in the preparation and issuance of the May 31, 2023, financial statements and its Single Audit required under the Uniform Guidance. Action: HH has provided the necessary accounting personnel and contracts with an experienced accounting firm to ensure that the accounting functions are completed within nine months of the year end. The original delay is currently being worked through and HH personnel and an outside accounting firm are currently working to catch up on past due financial audits. FY2023-2024 and FY2024-2025 are expected to completed during FY2025-2026. page 33 - Prior Year Findings 2022-003: Internal Controls Over Cost Allocations and Administrative Costs Invoices and disbursements tested did not always indicate the allocation of costs between programs and grants. There were invoices that did not include approval for payment and some invoices were not available to be tested. Action - HH will continue to improve systems related to the cost allocation of grants funds to ensure that backup is included with the invoices at the time of payment.
View Audit 355253
Finding 558161 (2023-005)
Significant Deficiency 2023
Douglas County Board of Commissioners
GA
Internal Control / Segregation of Duties Questioned Costs Reporting
We concur that the Fire Department did not submit the Performance Progress Report by the due date. When the County Grants Manager realized the report was not filed, it was corrected immediately and filed June 22, 2023. A dedicated Grants Division was recently established within the finance departmen...
We concur that the Fire Department did not submit the Performance Progress Report by the due date. When the County Grants Manager realized the report was not filed, it was corrected immediately and filed June 22, 2023. A dedicated Grants Division was recently established within the finance department during the second quarter of 2023 and has started the proper management of federal grants and reporting. In 2024, the Grants Division commenced full oversight of the entire grant lifecycle which included closeout. The Grants Division will closely monitor grant spending, compliance, record-keeping, budgeting, and financial oversight.
View Audit 355039
Finding 558111 (2023-003)
Material Weakness 2023
Unified School District No. 465
KS
Questioned Costs Subrecipient Monitoring Reporting
Corrective Action Plan Findings - Federal Award Program Audits Department of Education Finding 2023-003 - COVID-19 Education Stabilization Fund - Assistance Listing Number 84.425U, COVID-19 Education Stabilization Fund - Assistance Listing Number 84.425W Condition: The year-end financial reports...
Corrective Action Plan Findings - Federal Award Program Audits Department of Education Finding 2023-003 - COVID-19 Education Stabilization Fund - Assistance Listing Number 84.425U, COVID-19 Education Stabilization Fund - Assistance Listing Number 84.425W Condition: The year-end financial reports contained several errors related to the recording of receipts and expenses of the Major Federal Award Program. Auditors’ Recommendation: The District should implement a process that includes monitoring activity related to Federal Programs. It is recommended that individuals within the District obtain training related to internal control systems or consider the use of a 3rd party specialist. Planned Corrective Action: The District has had turnover since the completion of the previous audit (June 30, 2022), staff in key positions have turned over multiple times. As of the date of this report, the District has hired and implemented training for key staff to ensure proper grant management in the future.
View Audit 354987
Finding 558109 (2023-002)
Material Weakness 2023
Unified School District No. 465
KS
Questioned Costs Subrecipient Monitoring Reporting
Corrective Action Plan Findings - Federal Award Program Audits Department of Education Finding 2023-002 - Special Education Cluster (IDEA) - Special Education Grants to States - Assistance Listing Number 84.027, Special Education Preschool Grants - Assistance Listing Number 84.173 Condition: The...
Corrective Action Plan Findings - Federal Award Program Audits Department of Education Finding 2023-002 - Special Education Cluster (IDEA) - Special Education Grants to States - Assistance Listing Number 84.027, Special Education Preschool Grants - Assistance Listing Number 84.173 Condition: The year-end financial reports contained several errors related to the recording of receipts and expenses of the Major Federal Award Program. Auditors’ Recommendation: The District should implement a process that includes monitoring activity related to Federal Programs. It is recommended that individuals within the District obtain training related to internal control systems or consider the use of a 3rd party specialist. Planned Corrective Action: The District has had turnover since the completion of the previous audit (June 30, 2022), staff in key positions have turned over multiple times. As of the date of this report, the District has hired and implemented training for key staff to ensure proper grant management in the future.
View Audit 354987
Finding 556167 (2023-001)
Significant Deficiency 2023
North Central Fire Protection District
CA
Internal Control / Segregation of Duties Questioned Costs Allowable Costs / Cost Principles
As soon as this recommendation was verbally made to staff in 2024, staff implemented a procedure to have all journal entries reviewed and approved by a member of management. Staff has reviewed all 2022-23 journal entries to ensure the appropriate initials/signatures reflect review and approval by a ...
As soon as this recommendation was verbally made to staff in 2024, staff implemented a procedure to have all journal entries reviewed and approved by a member of management. Staff has reviewed all 2022-23 journal entries to ensure the appropriate initials/signatures reflect review and approval by a member of management.
View Audit 354842
Finding 556156 (2023-004)
Material Weakness 2023
Lone Pine Unified School District
CA
Questioned Costs
The District will maintain supporting documentation for the use of federal funds.
The District will maintain supporting documentation for the use of federal funds.
View Audit 354833 Questioned Costs: $1
Finding 556153 (2023-005)
Material Weakness 2023
Lone Pine Unified School District
CA
Questioned Costs
The District will maintain supporting documentation for the use of federal funds.
The District will maintain supporting documentation for the use of federal funds.
View Audit 354833 Questioned Costs: $1
Finding 556148 (2023-003)
Material Weakness 2023
Lone Pine Unified School District
CA
Questioned Costs
The District will maintain financial records used to report federal dollars for a minimum of 3 years
The District will maintain financial records used to report federal dollars for a minimum of 3 years
View Audit 354833 Questioned Costs: $1
Finding 556098 (2023-007)
Significant Deficiency 2023
Black Community Provider Network, INC
IL
Questioned Costs Subrecipient Monitoring Allowable Costs / Cost Principles § 200.318 § 200.331 § 200.403 § 200.405
Plan: Contracts are reviewed and updated annually by the compliance officer. Anticipated Date of Completion: 4/28/2025 Name of Contact Persons: Michael Holmes Management Response: Due to the repeated extensions of certain government grants and contracts, there were delays in securing contract re...
Plan: Contracts are reviewed and updated annually by the compliance officer. Anticipated Date of Completion: 4/28/2025 Name of Contact Persons: Michael Holmes Management Response: Due to the repeated extensions of certain government grants and contracts, there were delays in securing contract renewals with updated budget allocations. This issue has now been addressed with the completion and submission of revised budgets and grants.
View Audit 354800 Questioned Costs: $1
Finding 556097 (2023-006)
Significant Deficiency 2023
Black Community Provider Network, INC
IL
Questioned Costs Allowable Costs / Cost Principles § 200.403 § 200.404 § 200.405 § 200.414
Plan: BCPN confirms that indirect costs are calculated in accordance with government guidelines outlined in 2 CFR Part 200. Anticipated Date of Completion: 4/26/2025 Name of Contact Persons: Ieesha Jones Management Response: Due to adopting to use a calendar year instead of a fiscal year, BCPN's ...
Plan: BCPN confirms that indirect costs are calculated in accordance with government guidelines outlined in 2 CFR Part 200. Anticipated Date of Completion: 4/26/2025 Name of Contact Persons: Ieesha Jones Management Response: Due to adopting to use a calendar year instead of a fiscal year, BCPN's indirect costs for FY24 will be reflected in the financial statements for the period ending June 30, 2024, rather than December 31, 2023. We confirm that the indirect costs are being billed and spent in compliance with the guidelines outlined in the government contract and there is no need for funds to be returned.
View Audit 354800 Questioned Costs: $1
Finding 556084 (2023-003)
Material Weakness 2023
Dover Interfaith Mission for Housing, Inc.
DE
Allowable Costs / Cost Principles Questioned Costs Subrecipient Monitoring
Fraud was identified by board members of the Dover Interfaith Mission for Housing (DIMH) in November 2023 with respect to the Emergency Housing and Health programs, and an internal investigation ensued. Prior to this finding, a committee of the board reviewed the Executive Director’s (ED) financial ...
Fraud was identified by board members of the Dover Interfaith Mission for Housing (DIMH) in November 2023 with respect to the Emergency Housing and Health programs, and an internal investigation ensued. Prior to this finding, a committee of the board reviewed the Executive Director’s (ED) financial reporting and were confident in her documentation, which was also approved by the City of Dover manager of the Emergency Housing and Health programs. Briefly, the ED had invented invoices from motels and landlords along with applications from individuals and families who did not exist. In both programs, DIMH provided funds to cover motel stays and landlord payments and was reimbursed by the City of Dover. In practice, the ED simply took DIMH funds, deposited them into a personal account, and provided invented documents to the City that resulted in reimbursement to DIMH. This clever ruse had eluded both board and city personnel monitoring the expenditures and reimbursements. Once there was suspicion of fraud, board members not involved in prior program oversight actively reviewed files with the City’s program manager to ascertain its extent. A meeting was held between the board chair and the city’s program manager to review all files in order to determine the approximate extent of the fraud, which was clearly limited to these two grant programs. In early January 2024, DIMH board members arranged to meet with the Dover Police Department to provide an overview of the fraud. This led to police contact with local FBI and HUD inspector general offices along with the US attorney for Delaware, with the same board members providing all files and in-person descriptions of the scam. On February 28, 2025, the former ED met with federal officials to determine whether to endeavor to resolve the matter or to engage in litigation. She was given March 14, 2025 as a deadline for her decision. At that date, she agreed to work towards a settlement of resolution of the case and not to go to court. The details of this agreement are pending as of March 14, 2025. In early 2024, the DIMH board engaged a new external accounting firm and created a new control environment with significant internal controls and separation of duties developed in collaboration with the contracted CPA firm.
View Audit 354781 Questioned Costs: $1
Finding 556083 (2023-002)
Material Weakness 2023
Dover Interfaith Mission for Housing, Inc.
DE
Allowable Costs / Cost Principles Questioned Costs Subrecipient Monitoring
Fraud was identified by board members of the Dover Interfaith Mission for Housing (DIMH) in November 2023 with respect to the Emergency Housing and Health programs, and an internal investigation ensued. Prior to this finding, a committee of the board reviewed the Executive Director’s (ED) financial ...
Fraud was identified by board members of the Dover Interfaith Mission for Housing (DIMH) in November 2023 with respect to the Emergency Housing and Health programs, and an internal investigation ensued. Prior to this finding, a committee of the board reviewed the Executive Director’s (ED) financial reporting and were confident in her documentation, which was also approved by the City of Dover manager of the Emergency Housing and Health programs. Briefly, the ED had invented invoices from motels and landlords along with applications from individuals and families who did not exist. In both programs, DIMH provided funds to cover motel stays and landlord payments and was reimbursed by the City of Dover. In practice, the ED simply took DIMH funds, deposited them into a personal account, and provided invented documents to the City that resulted in reimbursement to DIMH. This clever ruse had eluded both board and city personnel monitoring the expenditures and reimbursements. Once there was suspicion of fraud, board members not involved in prior program oversight actively reviewed files with the City’s program manager to ascertain its extent. A meeting was held between the board chair and the city’s program manager to review all files in order to determine the approximate extent of the fraud, which was clearly limited to these two grant programs. In early January 2024, DIMH board members arranged to meet with the Dover Police Department to provide an overview of the fraud. This led to police contact with local FBI and HUD inspector general offices along with the US attorney for Delaware, with the same board members providing all files and in-person descriptions of the scam. On February 28, 2025, the former ED met with federal officials to determine whether to endeavor to resolve the matter or to engage in litigation. She was given March 14, 2025 as a deadline for her decision. At that date, she agreed to work towards a settlement of resolution of the case and not to go to court. The details of this agreement are pending as of March 14, 2025. In early 2024, the DIMH board engaged a new external accounting firm and created a new control environment with significant internal controls and separation of duties developed in collaboration with the contracted CPA firm.
View Audit 354781 Questioned Costs: $1
Finding 556040 (2023-003)
Material Weakness 2023
Zion Integrated Behavioral Health Services
IA
Questioned Costs Cash Management Internal Control / Segregation of Duties § 200.303
Criteria: CFR 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and conditions of the federal award. Condition: ...
Criteria: CFR 200.303(a) establishes that the auditee must establish and maintain effective internal control over the federal award that provides assurance that the entity is managing the federal award in compliance with federal statutes, regulations, and conditions of the federal award. Condition: Management was unable to reproduce a detailed listing of expenses incurred that agreed to the amounts submitted under the federal award for reimbursement. Planned Corrective Action: Management agrees with the finding and will review its policies and procedures to ensure that a detailed listing of expenses submitted for reimbursement is maintained. Planned Completion Date: Ongoing Person Responsible: Mary Young, Director of Operations
View Audit 354766
Finding 556012 (2023-005)
Material Weakness 2023
Dekalb County Board of Education
GA
Equipment & Real Property Management Questioned Costs Procurement, Suspension & Debarment
2023-005 Equipment and Real Property Management Program Name: Emergency Connectivity Funds Assistance Listing Number: 32.009 Pass-Through Agency: Criteria: Internal controls should be in place to ensure that equipment and real property management requirements are met as specified in the guidance pro...
2023-005 Equipment and Real Property Management Program Name: Emergency Connectivity Funds Assistance Listing Number: 32.009 Pass-Through Agency: Criteria: Internal controls should be in place to ensure that equipment and real property management requirements are met as specified in the guidance provided by the Federal Communications Commission (FCC). FCC guidance specified that the District was required to maintain asset inventories of the devices purchased with the ECF program. The Uniform Guidance requires any recipients of federal awards to comply with the equipment and real property management requirements indicated by the grantor agency. Corrective Action Plan: We concur with this finding. The District is developing corrective actions to strengthen Technology Division internal controls, policies, and procedures and ensure adherence through improved monitoring. The Capital Asset policy will be updated to document the District’s guidelines around bulk purchases, which will go before the Board for approval. Finance will work with all Divisions to ensure qualifying purchases are recorded in the financial records and properly inventoried. Estimated Completion Date: Fiscal Year 2025 Contact Person: Dr. Kermit Belcher, Interim Chief Technology Officer Telephone: 678-676-1200 E-mail: Kermit_Belcher@dekalbschoolsga.org
View Audit 354728 Questioned Costs: $1
Finding 556009 (2023-004)
Material Weakness 2023
Dekalb County Board of Education
GA
Allowable Costs / Cost Principles Internal Control / Segregation of Duties Questioned Costs
2023-004 Allowable Costs Program Name: Child Nutrition Cluster Assistance Listing Number: 10.553 and 10.555 Pass-Through Agency: Georgia Department of Education Criteria: In accordance with the terms of the Child Nutrition Grant and 2 CFR 200, Cost Principles for States, Local Governments, and India...
2023-004 Allowable Costs Program Name: Child Nutrition Cluster Assistance Listing Number: 10.553 and 10.555 Pass-Through Agency: Georgia Department of Education Criteria: In accordance with the terms of the Child Nutrition Grant and 2 CFR 200, Cost Principles for States, Local Governments, and Indian Tribes, specific documentation must be maintained to support salaries and wages charged to the federal program. Where employees are expected to work solely on a single Federal award or cost objective, charges for their salaries and wages will be supported by periodic certifications that the employees worked solely on that program for the period covered by the certification. These certifications will be prepared at least semi-annually and will be signed by the employee or supervisory official having first-hand knowledge of the work performed by the employee. Where employees work on multiple activities or cost objectives, a distribution of their salaries or wages will be supported by personnel activity reports or equivalent documentation. Corrective Action Plan: We concur with this finding. The District is developing corrective actions to strengthen Child Nutrition Cluster Department internal controls, policies, and procedures and ensure adherence through improved monitoring. Through collaboration, the Finance Division and the School Nutrition Department will review payroll detail reports and ensure periodic certifications for all employees are completed timely. Estimated Completion Date: Fiscal Year 2025 Contact Person: Dr. Connie Walker, School Nutrition Executive Director Telephone: 678-676-1200 E-mail: Connie_R_Walker@dekalbschoolsga.org
View Audit 354728 Questioned Costs: $1
Finding 555997 (2023-001)
Material Weakness 2023
County of Hancock, Maine
ME
Subrecipient Monitoring Questioned Costs Material Weakness
2023-001 Material Weakness Name of contact person: Michael Crooker, County Administrator Corrective Action: The County will develop and implement a subrecipient monitoring program. Proposed implementation date: The corrective action plan will be implemented as soon as possible.
2023-001 Material Weakness Name of contact person: Michael Crooker, County Administrator Corrective Action: The County will develop and implement a subrecipient monitoring program. Proposed implementation date: The corrective action plan will be implemented as soon as possible.
View Audit 354709
Finding 555949 (2023-002)
Material Weakness 2023
Municipality of Lajas
PR
Reporting Questioned Costs Material Weakness
The Municipality will take all necessary administrative measures to promptly address and correct the situation. I will instruct the Finance Department to submit all required financial information promptly to our financial consultant and external auditor to meet the deadline for submitting the Singl...
The Municipality will take all necessary administrative measures to promptly address and correct the situation. I will instruct the Finance Department to submit all required financial information promptly to our financial consultant and external auditor to meet the deadline for submitting the Single Audit Report for the year 2024. Expected completion date : April 30, 2026.
View Audit 354662
Finding 555924 (2023-003)
Material Weakness 2023
Cheyenne and Arapaho Tribes Department of Housing
OK
Questioned Costs HUD Housing Programs Internal Control / Segregation of Duties
2023-003 Condition: Deficiencies Noted in Maintenance of the Cash Receipts and Deposits and the Tenant Accounts Receivable Steps to resolve: Management agrees with the audit finding and the auditor’s recommendation. We will implement procedures and changes to ensure that this finding will be clea...
2023-003 Condition: Deficiencies Noted in Maintenance of the Cash Receipts and Deposits and the Tenant Accounts Receivable Steps to resolve: Management agrees with the audit finding and the auditor’s recommendation. We will implement procedures and changes to ensure that this finding will be cleared by the subsequent fiscal year audit. Individual responsible for correction: Mr. Damon Dunbar, Executive Director Timeframe: As of December 31, 2025
View Audit 354589
Finding 555923 (2023-002)
Material Weakness 2023
Cheyenne and Arapaho Tribes Department of Housing
OK
Questioned Costs Procurement, Suspension & Debarment Allowable Costs / Cost Principles
2023-002 Condition: Deficiencies Noted in Cash Disbursements Steps to resolve: Management agrees with the audit finding and the auditor’s recommendation. We will implement procedures and changes to ensure that this finding will be cleared by the subsequent fiscal year audit. Individual responsi...
2023-002 Condition: Deficiencies Noted in Cash Disbursements Steps to resolve: Management agrees with the audit finding and the auditor’s recommendation. We will implement procedures and changes to ensure that this finding will be cleared by the subsequent fiscal year audit. Individual responsible for correction: Mr. Damon Dunbar, Executive Director Timeframe: As of December 31, 2025
View Audit 354589
Finding 555922 (2023-001)
Material Weakness 2023
Cheyenne and Arapaho Tribes Department of Housing
OK
Questioned Costs Eligibility HUD Housing Programs
2023-001 Condition: Deficiencies Noted in Maintenance of Tenant Files Steps to resolve: Management agrees with the audit finding and the auditor’s recommendation. We will implement procedures and changes to ensure that this finding will be cleared by the subsequent fiscal year audit. Individua...
2023-001 Condition: Deficiencies Noted in Maintenance of Tenant Files Steps to resolve: Management agrees with the audit finding and the auditor’s recommendation. We will implement procedures and changes to ensure that this finding will be cleared by the subsequent fiscal year audit. Individual responsible for correction: Mr. Damon Dunbar, Executive Director Timeframe: As of December 31, 2025
View Audit 354589
Bethany Housing Corporation
CT
Questioned Costs Internal Control / Segregation of Duties
2023-001 BOARD OVERSIGHT Criteria: Board of directors should convene on a regular basis to fulfill their fiduciary duties and provide governance to the Project. Board of directors should be active and oversee responsibilities of the Project. Condition: During our audit testing, we noted that the boa...
2023-001 BOARD OVERSIGHT Criteria: Board of directors should convene on a regular basis to fulfill their fiduciary duties and provide governance to the Project. Board of directors should be active and oversee responsibilities of the Project. Condition: During our audit testing, we noted that the board of directors were not holding board meetings regularly. Cause: Board of directors are not meeting on a regular basis. Effect: Board of directors may not be providing sufficient oversight of the management company and the Project’s financial transactions. Questioned Costs: N/A Recommendation: We recommend that the board of directors meet on a regular basis to fulfill their fiduciary duties. Management’s Views and Corrective Action Plan: The board will work to meet on a more regular basis.
View Audit 354569
St. John's Housing Corporation
CT
Questioned Costs
2023-002 RESERVE ACCOUNT FUNDING Criteria: The Project’s reserve account must be fully funded in accordance with the budget as approved by USDA-RD and maintained in a separate bank account. Condition: During our audit testing, we noted that while the Project maintained a separate bank account for r...
2023-002 RESERVE ACCOUNT FUNDING Criteria: The Project’s reserve account must be fully funded in accordance with the budget as approved by USDA-RD and maintained in a separate bank account. Condition: During our audit testing, we noted that while the Project maintained a separate bank account for reserve funds, it was not funded in accordance with the budget. Cause: Budgeted transfers were not made before yearend to ensure the account is fully funded. Effect: Reserve bank account is underfunded. Questioned Costs: None noted. Recommendation: The Project should implement controls to ensure that the reserve bank account is fully funded. Management’s Views and Corrective Action Plan: Management will correct this when sufficient funds are able to be transferred into the reserve account.
View Audit 354568
St. John's Housing Corporation
CT
Questioned Costs Internal Control / Segregation of Duties
2023-001 BOARD OVERSIGHT Criteria: Board of directors should convene on a regular basis to fulfill their fiduciary duties and provide governance to the Project. Board of directors should be active and oversee responsibilities of the Project. Condition: During our audit testing, we noted that the boa...
2023-001 BOARD OVERSIGHT Criteria: Board of directors should convene on a regular basis to fulfill their fiduciary duties and provide governance to the Project. Board of directors should be active and oversee responsibilities of the Project. Condition: During our audit testing, we noted that the board of directors were not holding board meetings regularly. Cause: Board of directors are not meeting on a regular basis. Effect: Board of directors may not be providing sufficient oversight of the management company and the Project’s financial transactions. Questioned Costs: N/A Recommendation: We recommend that the board of directors meet on a regular basis to fulfill their fiduciary duties. Management’s Views and Corrective Action Plan: The board has agreed to a minimum of two board meetings each year and any additional meetings on an as needed basis.
View Audit 354568
« 1 401 402 404 405 953 »