Finding Text
S3800-010 Finding Reference Number: 2023-003
S3800-011 Title and Assistance Listing Number of Federal Program: 14.195 Section 8 Housing Assistance Payments Program
S3800-015 Type of Finding: Federal Award Finding
S3800-016 Finding Resolution Status: In process
S3800-017 Information on Universe and Population Size: Replacement reserve deposits
S3800-018 Sample Size Information: There was no sampling related to this finding.
S3800-019 Identification of Repeat Finding and Finding Reference Number: Repeat finding, prior reference number 2022-004.
S3800-020 Criteria: In accordance with Section 8 contracts for each property, HUD requires monthly deposits to the replacement reserves.
S3800-030 Statement of Condition: During 2023, management did not make any deposits to the replacement reserves.
S3800-032 Cause: Management made a decision to not make the deposits.
S3800-033 Effect or Potential Effect and Perspective: Deposits to the replacement reserves are delinquent in the amount of $299,163
S3800-035 Auditor Non-Compliance Code: N - Reserve for replacements deposits
S3800-040 Questioned Costs: No questioned costs.
S3800-045 Reporting Views of Responsible Officials: Management and ownership agreed with the finding and has implemented a corrective action plan.
S3800-012 Please identify the property(s) and associated questioned costs this finding applies to:
First AME Housing Association
S3800-037 FHA/Contract Number: WA19M000137, WA19L000005, WA19L000004 WA19M000135 and WA19M000127
S3800-050 Context: See statement of condition.
S3800-080 Recommendation: Management should implement procedures to ensure that deposits occur monthly. Management should deposit the delinquent funds as soon as possible.
S3800-090 Auditor's Summary of Auditee's Comments on the Findings and Recommendations:
Management and ownership agrees with the auditor.
S3800-130 Response Indicator: Agree
S3800-140 Completion Date: 3/31/2024
S3800-150 Response: Ownership agreed with the finding and has implemented a corrective action plan.