Finding Text
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT For the Hill Housing Facility FINDING 2023-001: SECTION 8, ASSISTANCE LISTING NUMBER 14.195 Condition: The Project did not deposit surplus cash at December 31, 2021 into a residual receipts account. The amount that should have been deposited was $14,079. Criteria: The Project should have deposited surplus cash at December 31, 2021 into a residual receipts account. Effect: The residual receipts account balance was $14,079 less than it should be at December 31, 2023. Context: Activity in the residual receipts account for the year ended December 31, 2023 was tested. No sample was tested. Questioned Costs - $14,079, Cause: The Project did not make the necessary deposit of surplus cash into a residual receipts account. Recommendation: The Project should deposit surplus cash as of December 31, 2021 into a residual receipt account as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will deposit $14,079 into a residual receipts account as soon as possible. Total - Department of Housing and Urban Development - $14,079, Non-compliance code - B