FAC Explorer

Finding 1074644 (2023-005)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-09-25
Audit: 320968
Organization: Rev. Dr. Clay Evans Manor (LA)
Auditor: Wharton CPA LLC

AI Summary

  • Issue: The owner failed to submit the required financial statement to HUD.
  • Requirements Impacted: Annual financial statements must follow GAAP and be submitted electronically within specified deadlines.
  • Follow-Up: Ensure the owner complies with HUD requirements moving forward.

Finding Text

Condition: The owner did not meet the HUD financial reporting requirement. Criteria: According to HUD’s Uniform Financial Reporting Standards rule, annually, an owner is required to submit a financial statement, prepared in accordance with generally accepted accounting principles (GAAP), in the electronic format specified by HUD. The unaudited financial statement is due three months after the owner’s fiscal year end and the audited financial statement is due nine months after its fiscal year-end (24 CFR section 5.801). The financial statement must include the financial activities of this program. Cause: The cause is undeterminable. Effect: The Project is not compliant with HUD program requirements. Recommendation: I recommend the owner meet HUD program requirements.

Categories

HUD Housing Programs Reporting

Other Findings in this Audit

  • 498198 2023-001
    Significant Deficiency
  • 498199 2023-002
    Significant Deficiency
  • 498200 2023-003
    Significant Deficiency
  • 498201 2023-004
    Significant Deficiency
  • 498202 2023-005
    Significant Deficiency
  • 1074640 2023-001
    Significant Deficiency
  • 1074641 2023-002
    Significant Deficiency
  • 1074642 2023-003
    Significant Deficiency
  • 1074643 2023-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $6.45M
14.195 Section 8 Housing Assistance Payments Program $691,627
14.191 Multifamily Housing Service Coordinators $66,693