FAC Explorer

Finding 1072898 (2023-003)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-09-11
Audit: 319378
Organization: Wilmington Housing Authority (NC)
Auditor: Tpo CPA PLLC

AI Summary

  • Answer: There were delays and inaccuracies in reconciling significant accounts to the general ledger.
  • Trend: This has led to untimely financial reporting, affecting program activities.
  • List: Ensure timely reconciliations, improve documentation, and establish better schedules moving forward.

Finding Text

Failure to perform reconciliations of significant accounts to the general ledger accounts in a timely or accurate manner. These delays, inadequate schedules, reconciliations and supporting documentation resulted in untimely financial reporting and impact on the program activities.

Categories

Reporting

Other Findings in this Audit

  • 496456 2023-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $10.97M
14.850 Public and Indian Housing $6.03M
14.872 Public Housing Capital Fund $3.31M
14.999 Emergency Housing Vouchers $234,018
14.870 Resident Opportunity and Supportive Services - Service Coordinators $202,048
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $193,017
14.879 Mainstream Vouchers $149,230
14.877 Public Housing Family Self-Sufficiency Under Resident Opportunity and Supportive Services $105,859
14.191 Multifamily Housing Service Coordinators $66,806
14.267 Continuum of Care Program $60,285
14.999 Public Housing Cares Act $0
14.999 Hcv Cares Act Funding $0