Finding Text
Finding Number 2024-4
Condition: Cathedral Towers did not ensure that all required and updated information related to income limits on HUD Form 50059 was included in four tenant files.
Criteria: Per HUD Handbook 4350.3, the project owner must retain a completed and updated copy of HUD Form 50059.
Cause: Tenant files are required to include the completed and updated Form 50059. Incomplete or outdated Form 50059s were included in four tenant files.
Effect: Four Form 50059s included in tenant files were incomplete or outdated.
Amount in Questioned Cost: $0
Recommendation: Cathedral Towers should review the procedures in place to ensure all forms related to income limits in the recertification process are complete.
Auditee’s Response: Cathedral Towers agreed with the finding and will review the application process to ensure the required forms are completed and included.