Corrective Action Plans

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Condition: The Organization had cash balances that exceeded federally insured limits, and management did not monitor or maintain documentation of the financial institutions’ ratings Criteria: HUD guidelines require cash to be maintained in financial institutions that meet minimum GNMA ratings when b...
Condition: The Organization had cash balances that exceeded federally insured limits, and management did not monitor or maintain documentation of the financial institutions’ ratings Criteria: HUD guidelines require cash to be maintained in financial institutions that meet minimum GNMA ratings when balances exceed federally insured limits. Financial institution ratings are to be monitored by management on a quarterly basis, and documentation is to be maintained for at least three years as required by the HUD handbook 4350.1 Cause: The cause of this issue was the absence of established procedures requiring periodic review of cash balances exceeding federally insured limits and the lack of a documented process for monitoring and retaining financial institution rating information. Effect: There were no negative effects on the Organization. Action Plan: The Organization has maintained a strong partnership with our banking institution for several years, and this relationship continues to provide meaningful support to our residents and community. Management acknowledges that certain cash balances exceeded federally insured limits and that documentation of financial institution ratings was not consistently monitored or maintained. To address this, management will (1) evaluate opportunities to rebalance cash holdings to remain within insured limits where feasible, and (2) implement a formal process to review, document, and retain financial institution credit ratings on at least a quarterly basis. This process will be incorporated into the Organization’s ongoing treasury and risk-management procedures to ensure compliance going forward.
Criteria: HUD requires the Organization to maintain fidelity bond coverage of at least two months' cash collections Cause: Following completion of the 2025 Mark-to-Market process for HRCA Housing for Elderly Inc., we failed to update our fidelity bond coverage to reflect the revised requirements. Ac...
Criteria: HUD requires the Organization to maintain fidelity bond coverage of at least two months' cash collections Cause: Following completion of the 2025 Mark-to-Market process for HRCA Housing for Elderly Inc., we failed to update our fidelity bond coverage to reflect the revised requirements. Action Plan: Once the finding was identified, we immediately contacted our insurance broker and requested an increase to the fidelity bond coverage. The bond has since been raised to a $2M limit, and the updated policy became effective on 11/14/25. Going forward, the fiscal team will incorporate an annual verification of bond coverage into its routine monitoring procedures to ensure timely updates after significant organizational or regulatory changes. In addition, we are implementing an internal audit component to enhance our review of all HUD requirements. This added oversight will help mitigate future risk and ensure continued compliance with all applicable regulations.
Condition: The Organization had cash balances that exceeded federally insured limits, and management did not monitor or maintain documentation of the financial institutions’ ratings Criteria: HUD guidelines require cash to be maintained in financial institutions that meet minimum GNMA ratings when b...
Condition: The Organization had cash balances that exceeded federally insured limits, and management did not monitor or maintain documentation of the financial institutions’ ratings Criteria: HUD guidelines require cash to be maintained in financial institutions that meet minimum GNMA ratings when balances exceed federally insured limits. Financial institution ratings are to be monitored by management on a quarterly basis, and documentation is to be maintained for at least three years as required by the HUD handbook 4350.1 Cause: The cause of this issue was the absence of established procedures requiring periodic review of cash balances exceeding federally insured limits and the lack of a documented process for monitoring and retaining financial institution rating information. Effect: There were no negative effects on the Organization. Action Plan: The Organization has maintained a strong partnership with our banking institution for several years, and this relationship continues to provide meaningful support to our residents and community. Management acknowledges that certain cash balances exceeded federally insured limits and that documentation of financial institution ratings was not consistently monitored or maintained. To address this, management will (1) evaluate opportunities to rebalance cash holdings to remain within insured limits where feasible, and (2) implement a formal process to review, document, and retain financial institution credit ratings on at least a quarterly basis. This process will be incorporated into the Organization’s ongoing treasury and risk-management procedures to ensure compliance going forward.
DEPARTMENT OF THE TREASURY CDFI Equitable Recovery Program (CDFI ERP) – Assistance Listing No. 21.033 Recommendation: The Credit Union did not maintain supporting records to demonstrate that interest earned on unused funds held in interest-bearing accounts was remitted to the federal government, as ...
DEPARTMENT OF THE TREASURY CDFI Equitable Recovery Program (CDFI ERP) – Assistance Listing No. 21.033 Recommendation: The Credit Union did not maintain supporting records to demonstrate that interest earned on unused funds held in interest-bearing accounts was remitted to the federal government, as required by 2 C.F.R. § 200.305(b)(7). This deficiency appears to stem from a lack of formal procedures and oversight related to the handling of advance payments and interest earned on federal funds. To address this issue, we recommend that the Credit Union implement internal controls designed to ensure compliance with grant requirements, including procedures for tracking interest earned, verifying remittance to the federal government, and maintaining appropriate documentation to support these activities. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Management will implement grant compliance controls and maintain proper documentation. Name(s) of the contact person(s) responsible for corrective action: Cindy Lindsey, CEO Planned completion date for corrective action plan: December 2025
DEPARTMENT OF THE TREASURY CDFI Equitable Recovery Program (CDFI ERP) – Assistance Listing No. 21.033 Recommendation: We recommend that the Credit Union strengthen its internal controls by implementing procedures for transaction-level tracking of federal grant expenditures, maintaining contemporaneo...
DEPARTMENT OF THE TREASURY CDFI Equitable Recovery Program (CDFI ERP) – Assistance Listing No. 21.033 Recommendation: We recommend that the Credit Union strengthen its internal controls by implementing procedures for transaction-level tracking of federal grant expenditures, maintaining contemporaneous documentation to support allowability, training staff on federal compliance requirements, and conducting periodic internal reviews to ensure documentation standards are consistently met. These actions will help address the lack of support noted in the original SEFA and ensure future submissions are fully auditable and compliant. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Management has updated the SEFA to include only expenditures with appropriate supporting documentation and has taken steps to strengthen internal controls. Name(s) of the contact person(s) responsible for corrective action: Cindy Lindsey, CEO Planned completion date for corrective action plan: December 2025
HACP has implemented the following corrective actions: Continued oversight of two current inspectors to ensure compliance with HQS and federal regulations; Retention of a Compliance Coordinator to oversee inspection processes and documentation; implementation of improved documentation standards rela...
HACP has implemented the following corrective actions: Continued oversight of two current inspectors to ensure compliance with HQS and federal regulations; Retention of a Compliance Coordinator to oversee inspection processes and documentation; implementation of improved documentation standards related to inspections, re-inspections, and abatements; Regular file audits conducted by the ED or Deputy Director to verify timely rescheduling and enforcement of rent abatements.
HIV Formula Care Grant (AL93.917) - Significant Deficiency 2025-001 Management agrees with the finding and will enhance the current processes. Subsequent to year end, management created a tool to ensure all elements of program income, as well as related expenses incurred, are properly tracked, repor...
HIV Formula Care Grant (AL93.917) - Significant Deficiency 2025-001 Management agrees with the finding and will enhance the current processes. Subsequent to year end, management created a tool to ensure all elements of program income, as well as related expenses incurred, are properly tracked, reported, and utilized in accordance with federal requirements. Additionally, written policies are being drafted to reflect these procedures. Implementation is expected by January 31, 2026.
The grant accounting team will create grant abstracts summarizing compliance requirements and key dates. These will then be added to the accounting department’s comprehensive checklist to ensure proper reporting guidelines are met on time. This will be completed by December 31, 2025 The grant accoun...
The grant accounting team will create grant abstracts summarizing compliance requirements and key dates. These will then be added to the accounting department’s comprehensive checklist to ensure proper reporting guidelines are met on time. This will be completed by December 31, 2025 The grant accounting Team will submit information on first-tier subawards to SAM.gov for eligible grants by December 31, 2025.
Enrollment Reporting - Withdrawal Corrective Action Plan Issue Identified: An enrollment reporting error occurred due to a student’s withdrawal date not being transmitted to the National Student Loan Data System (NSLDS). The student submitted a withdrawal form after the last enrollment file for the ...
Enrollment Reporting - Withdrawal Corrective Action Plan Issue Identified: An enrollment reporting error occurred due to a student’s withdrawal date not being transmitted to the National Student Loan Data System (NSLDS). The student submitted a withdrawal form after the last enrollment file for the semester had been reported to the National Student Clearinghouse (NSC). Upon receipt, the withdrawal date was entered retroactively as the final day of the semester. Because the semester had already been reported, the withdrawal was not included until the subsequent first-ofterm enrollment report, resulting in a reporting delay that exceeded the 60-day submission requirement. Corrective Action Taken: The University Registrar consulted with the National Student Clearinghouse to verify the appropriate process for reporting withdrawals received after the final enrollment submission for a term. Based on this guidance, the following corrective measures have been implemented: 1. Manual Reporting of Late Withdrawals: If a withdrawal form is received after the final enrollment file for a term has been submitted, the Registrar’s Office will manually update NSC with the correct withdrawal date. 2. Implementation Date: This procedure became effective at the beginning of the Fall 2025 semester. 3. Ongoing Compliance: The Registrar’s Office will continue to submit timely and accurate enrollment reports to NSLDS, ensuring that all changes to student enrollment status are reported within required federal deadlines. Responsible Office: The Office of the Registrar, under the direct supervision of the University Registrar, is responsible for the implementation, monitoring, and ongoing adherence to this corrective action plan. Enrollment Reporting - Graduation Corrective Action Plan Issue Identified: A reporting error occurred in which a student’s graduation date did not appear in the National Student Loan Data System (NSLDS). The discrepancy was caused by the graduation date being recorded as the commencement date of May 17, 2025, while the official semester end date was May 15, 2025.The final enrollment file was submitted to the National Student Clearinghouse (NSC) on May 15, 2025, prior to the entry of the graduation date, resulting in the omission from the report. Corrective Action Taken: The University Registrar reviewed the reporting procedures and determined that graduation dates must align with the official academic calendar, specifically the last day of class for the semester. To ensure compliance, the following measures have been implemented: 1. Standardization of Graduation Dates: All future graduation dates will be recorded as the official last day of class for the semester, rather than the commencement ceremony date. 2. Adjustment of Final Reporting Timeline: The final enrollment report for each term will not be submitted until all graduation records have been updated in the system to ensure accurate transmission to NSC and NSLDS. 3. Implementation Date: This procedure is effective beginning with the Fall 2025 and Spring 2026 graduation reporting cycle. 4. Ongoing Compliance: The Registrar’s Office will continue to monitor reporting practices to ensure all graduation and enrollment data are transmitted to NSLDS in accordance with federal reporting requirements. Responsible Office: The Office of the Registrar, under the direct supervision of the University Registrar, is responsible for the implementation, oversight, and continued compliance of this corrective action plan. Shannon Bishop Shannon.bishop@converse.edu University Registrar
December 16, 2025 To Whom it May Concern: This letter is in response to the audit findings identified in the annual district financial report for fiscal year ended June 30, 2025 issued by Leo Riley & Co. This le er addresses the following compliance findings: 2025-001 Separa on of Du es The district...
December 16, 2025 To Whom it May Concern: This letter is in response to the audit findings identified in the annual district financial report for fiscal year ended June 30, 2025 issued by Leo Riley & Co. This le er addresses the following compliance findings: 2025-001 Separa on of Du es The district is unable to assign a different person to each stage of the transac on cycle due to the lack of personnel. The district will brief new Trustees on their role in internal control and stress the importance of their oversight responsibili es. In addi on, the district will consider providing training on detec ng abuse and fraud as well as ordering printed materials for distribu on to Trustees. 2025-002 Budget Noncompliance The district is aware that the budget was exceeded and has implemented procedures to monitor and amend the budget in accordance with Wyoming State Statute. 2025-003 Separation of Duties The district is unable to assign a different person to each stage of the transac on cycle due to the lack of personnel. The district will brief new Trustees on their role in internal control and stress the importance of their oversight responsibili es. In addi on, the district will consider providing training on detec ng abuse and fraud as well as ordering printed materials for distribu on to Trustees. Sincerely, Katie Redmann Business Manager
Morrow County respectfully submits the following corrective action plan in response to deficiencies reported in our audit of the fiscal year ended June 30, 2025. The audit was completed by the independent auditing firm SingerLewak, LLP and reported the deficiency listed below. SIGNIFICANT DEFICIENCY...
Morrow County respectfully submits the following corrective action plan in response to deficiencies reported in our audit of the fiscal year ended June 30, 2025. The audit was completed by the independent auditing firm SingerLewak, LLP and reported the deficiency listed below. SIGNIFICANT DEFICIENCY 2025-001 Late Submission of Required Reports Criteria: The recipient or subrecipient must submit financial reports as required by the Federal award. Reports submitted annually by the recipient or subrecipient must be due no later than 90 calendar days after the reporting period. Reports submitted quarterly or semiannually must be due no later than 30 calendar days after the reporting period. Condition: The County did not submit the required financial reports timely. Cause: The County was unaware of the requirement to submit a financial report for this award. Effect or potential effect: Agency monitoring over the award is unable to be performed. Questioned Costs: None Recommendation: We recommend the County establish internal controls that would ensure compliance with the criteria noted above. The County acknowledges the significant deficiency identified in the 2025 audit related to late submission of required reports. Management has reviewed its existing controls and procedures to identify the point of failure and has implemented changes to ensure proper review of grant requirements and timely filing of reports occur.
Finding #2025-001: Comments on the Finding and Each Recommendation: The Corporation received a reimbursement from the reserve for replacements, as approved by HUD, for $17,400 for HVAC services based on a proposal during the year ended September 30, 2025; however the proposal was never accepted and ...
Finding #2025-001: Comments on the Finding and Each Recommendation: The Corporation received a reimbursement from the reserve for replacements, as approved by HUD, for $17,400 for HVAC services based on a proposal during the year ended September 30, 2025; however the proposal was never accepted and the scheduled repairs never incurred. At September 30, 2025, the $17,400 had not been deposited back into the reserve for replacements. Management should transfer $17,400 from the operating account to the reserve for replacements account. Action(s) taken or planned on the finding: Management concurs with the finding and recommendation. On November 6, 2025, management transferred $17,400 from the operating account to the reserve for replacements.
Identifying Number: 2025-001 Finding: The Organization calculated surplus cash of $31,225 as of September 30, 2020 and surplus cash of $39,082 as of September 30, 2021, which includes the undeposited amount from September 30, 2020. This amount was not deposited into a residual receipts fund account....
Identifying Number: 2025-001 Finding: The Organization calculated surplus cash of $31,225 as of September 30, 2020 and surplus cash of $39,082 as of September 30, 2021, which includes the undeposited amount from September 30, 2020. This amount was not deposited into a residual receipts fund account. The Organization calculated surplus cash of $149,237 as of September 30, 2022, which includes the undeposited amount from September 30, 2021. The Organization has not deposited this amount into a separate residual receipts fund account within 90 days of the fiscal year-end. Corrective Action Taken or Planned: Ron Wilson is responsible to ensure corrective actions are taken. Management disagrees with the finding because surplus cash was caused by a release from the replacement reserve and a timing difference between the release of the reserve and the addition of building improvements. Building improvements and a related payable were recorded during the year ended September 30, 2023. As of September 30, 2025, the Organization did not have any surplus cash; therefore, management does not intend to make a deposit into a residual receipts account. The construction payable will be paid in full as funds become available. Management has had discussions with their lender and intends to contact HUD directly to resolve this finding. Due to the necessary involvement of third parties to complete the corrective action, the Organization cannot determine an anticipated completion date.
Identifying Number: 2025-001 Finding: The Organization expanded the licensed bed size of the mortgaged property by 12 skilled nursing beds before obtaining an approval from HUD. Corrective Action Taken or Planned: Ron Wilson is responsible to ensure corrective actions are taken. Management has had m...
Identifying Number: 2025-001 Finding: The Organization expanded the licensed bed size of the mortgaged property by 12 skilled nursing beds before obtaining an approval from HUD. Corrective Action Taken or Planned: Ron Wilson is responsible to ensure corrective actions are taken. Management has had multiple communications since May 2013 with their lender to resolve this finding, however it still remains unresolved. Management corresponded with the lender in March 2022 to resolve the finding, and an application to HUD for approval of the license change was filed. Management most recently corresponded with the lender in August 2024. Management is currently waiting on HUD’s review for completion. Due to the necessary involvement of third parties to complete the corrective action, the Organization cannot determine an anticipated completion date.
Identifying Number: 2025-001 Finding: The Organization reduced the licensed bed size of the mortgaged property by 6 skilled nursing beds before obtaining an approval from HUD. Corrective Action Taken or Planned: Ron Wilson is responsible to ensure corrective actions are taken. Management is in the p...
Identifying Number: 2025-001 Finding: The Organization reduced the licensed bed size of the mortgaged property by 6 skilled nursing beds before obtaining an approval from HUD. Corrective Action Taken or Planned: Ron Wilson is responsible to ensure corrective actions are taken. Management is in the process of obtaining after-the-fact approval from HUD to resolve this finding by sending a letter of request to HUD with additional information on the bed change. Management most recently submitted additional information to the lender in September 2024. Due to the necessary involvement of third parties to complete the corrective action, the Organization cannot determine an anticipated completion date.
Finding 2025-001 Reporting – Annual Reporting Criteria: Education Stabilization Fund (ESF) grantees must submit an annual performance report with data on expenditures, planned expenditures, subrecipients, and uses of funds, including mandatory reservations. Local Education Agencies submit data to th...
Finding 2025-001 Reporting – Annual Reporting Criteria: Education Stabilization Fund (ESF) grantees must submit an annual performance report with data on expenditures, planned expenditures, subrecipients, and uses of funds, including mandatory reservations. Local Education Agencies submit data to the state education agencies. Key line items must include expenditures by category, object code, and allocations to schools. Audit Recommendation: We recommend management of the District review processes related to reporting for the ESF and establish appropriate internal controls to ensure all reporting requirements are met. Corrective Action Planned: The District will review, update and train staff on the process and internal controls related to reporting for the ESF to ensure compliance with the reporting requirements. Person(s) Responsible: Matthew Keyes, Superintendent ad interim Anticipated Completion Date: December 31, 2025
CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS, ASSISTANCE LISTING No. 21.027, DIRECT ALLOCATION AND GRANT NUMBER AC-22-0096, GRANT PERIOD - YEAR ENDED JUNE 30, 2025 Name of contact person: Mayor and City Council Corrective Action: The city has scheduled a meeting with engineers to discuss this i...
CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS, ASSISTANCE LISTING No. 21.027, DIRECT ALLOCATION AND GRANT NUMBER AC-22-0096, GRANT PERIOD - YEAR ENDED JUNE 30, 2025 Name of contact person: Mayor and City Council Corrective Action: The city has scheduled a meeting with engineers to discuss this issue and to make sure that, before the next federal funded project is started, all parties understand the procurement and suspension and debarment requirements. We intend to ensure that the procurement of goods and services are made in compliance with applicable federal regulations and other procurement requirements specific to a federal award or subaward, and that no subaward, contract or agreement for purchases of goods or services is made with any suspended or debarred party. Proposed Completion Date: Fiscal year 2026
Condition: Testing revealed that 1 of the 25 students tested were given the incorrect determination of free or reduced meal prices. Plan: The District should encourage all applications electronically. If a paper application is submitted, there should be multiple levels of review before approval. Ant...
Condition: Testing revealed that 1 of the 25 students tested were given the incorrect determination of free or reduced meal prices. Plan: The District should encourage all applications electronically. If a paper application is submitted, there should be multiple levels of review before approval. Anticipated Date of Completion: June 30, 2026 Name of Contact Person: Jason Brunaugh, Assistant Superintendent of Finance and Human Resources Management Response: The District will review procedures to determine if added steps are needed to ensure proper classification of manual applications.
2025-001 - Student Financial Assistance Cluster - Special Tests and Provisions - NSLDS Enrollment Reporting Condition During testing, it was determined that 3 of the 60 students tested for enrollment status changes had a missing graduation status or a late certification date for a graduation status ...
2025-001 - Student Financial Assistance Cluster - Special Tests and Provisions - NSLDS Enrollment Reporting Condition During testing, it was determined that 3 of the 60 students tested for enrollment status changes had a missing graduation status or a late certification date for a graduation status reflected within their NSLDS reporting. Recommendation We recommend that the College review its control policies to ensure that reporting is completed accurately and timely. Comments on the Finding Management is aware of the oversight and will ensure that there are processes in place for this to be corrected. Actions Taken As of November 2025, there has been a change in personnel within the Registrar's Office. With this new change in staff, the registrar's department will be trained to understand the importance of reporting correct information to the National Student Clearinghouse. They will also set calendar reminders to get the information filed in a timely manner so that students are correctly labeled for the following reporting period. The Registrar's Office will also ensure that there are at least two individuals within the office trained on these processes and importance/adherence to reporting deadlines.
Finding 2025-002: Time and Effort Documentation Name of Contact Person: TRIO Upward Bound Project Director, Vacant. In the Interim, contact will be Dr. Kayla Devora-Jones. Corrective Action: To prevent future occurrences, the College has implemented strengthened safeguards. All Time and Effort repor...
Finding 2025-002: Time and Effort Documentation Name of Contact Person: TRIO Upward Bound Project Director, Vacant. In the Interim, contact will be Dr. Kayla Devora-Jones. Corrective Action: To prevent future occurrences, the College has implemented strengthened safeguards. All Time and Effort reports are now housed in Microsoft Teams with shared access for the TRIO Directors, the supervising Institutional Project Manager, and the Human Resources Payroll Specialist, ensuring clear accountability in the submission and review process. TRIO Directors and the supervising Institutional Project Manager are responsible for the timely completion and submission of all Time and Effort reports, which must now be submitted within five business days following each payroll cycle. Human Resources is responsible for reviewing all submitted reports to verify completeness. This corrective action ensures systematic monitoring, real-time verification, and timely completion of all personnel activity reports. The shared filing structure also eliminates gaps in documentation and has been fully implemented across all four TRIO programs. Proposed Completion Date: 10/31/2025 Anticipated Completion Date: Completed
Finding 2025-001: Required Services to Eligible Participants Name of Contact Person: TRIO Talent Search Beeville Project Director, Ruby Hernandez Corrective Action: The College has corrected this issue by requiring staff to submit bimonthly student contact reports through Blumen within five business...
Finding 2025-001: Required Services to Eligible Participants Name of Contact Person: TRIO Talent Search Beeville Project Director, Ruby Hernandez Corrective Action: The College has corrected this issue by requiring staff to submit bimonthly student contact reports through Blumen within five business days following each reporting period. This process ensures consistent and well-documented outreach to students while strengthening the accuracy and completeness of program records. Under the leadership of the new TRIO Talent Search Beeville Director, the system is now fully operational and demonstrating compliance, with supervisory oversight in place to prevent future occurrences. This reporting practice has been standardized and implemented across all four TRIO programs. Proposed Completion Date: 11/01/2025 Anticipated Completion Date: Completed
Senior Community Service Employment Program – Assistance Listing No. 17.235 Recommendation: National Able Network, Inc. should verify the eligibility of the recipients, at a minimum, annually. We recommend NAN continue to generate weekly reports identifying overdue participants. Explanation of disag...
Senior Community Service Employment Program – Assistance Listing No. 17.235 Recommendation: National Able Network, Inc. should verify the eligibility of the recipients, at a minimum, annually. We recommend NAN continue to generate weekly reports identifying overdue participants. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: NAN now has career coaches run a weekly report to identify overdue participants for eligibility reassessment. Manager also runs the report to keep the career coaches on task. Name of the contact person responsible for corrective action: Michelle Harris, CFO Planned completion date for corrective action plan: September 30, 2025
The District will continue to provide training to involved parties to ensure that previously developmed processes continue to be followed.
The District will continue to provide training to involved parties to ensure that previously developmed processes continue to be followed.
Corrective Action Plan: To incorporate both the City Finance Department as well as a new Grant Writer position hired earlier this year, the City will update its internal control policy as it pertains to grant reimbursements. The City will define a workflow to allow for opportunities for the Grant Wr...
Corrective Action Plan: To incorporate both the City Finance Department as well as a new Grant Writer position hired earlier this year, the City will update its internal control policy as it pertains to grant reimbursements. The City will define a workflow to allow for opportunities for the Grant Writer and Finance to review draw requests prior to submission for reimbursement, especially for those grants with matching requirements. This workflow will include a checklist of required items, to include an accurate accounting of the required match, as well as signature lines for approval.
Statement of Condition 2025-001 (Assistance Listing 14.155): The Corporation did not make the required residual receipts deposit computed at September 30, 2024 in the amount of $642,483 within 90 days of fiscal year end. Recommendation: Management should implement a system to ensure the required res...
Statement of Condition 2025-001 (Assistance Listing 14.155): The Corporation did not make the required residual receipts deposit computed at September 30, 2024 in the amount of $642,483 within 90 days of fiscal year end. Recommendation: Management should implement a system to ensure the required residual receipts deposit is made within 90 days of fiscal year end. Management response: Agree. Management made the required residual receipts deposit on June 9, 2025.
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