FAC Explorer

Finding 1055125 (2023-002)

-
Requirement
P
Questioned Costs
$1
Year
2023
Accepted
2024-07-17
Audit: 315316
Organization: Nueces County Housing Assistance, Inc. (TX)
Auditor: Comer Nowling and Associates PC

AI Summary

  • Answer: The reserve for replacement is underfunded by $1,667 this year, with a total underfunding of $13,173.28 due to delays in prior increases.
  • Trend: Timely adjustments to the reserve have not been made in previous years, leading to cumulative underfunding.
  • List: Follow up by reviewing funding schedules and implementing timely adjustments to prevent future underfunding.

Finding Text

The Corporation’s reserve for replacement was underfunded by $1,667 for the current year. It was also determined that prior increases did not take place timely thus an additional underfunding from prior years exists for a total underfunding of $13,173.28.

Categories

Questioned Costs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $2.85M
14.195 Section 8 Housing Assistance Payments Program $219,921