FAC Explorer

Finding 1078883 (2024-001)

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Requirement
C
Questioned Costs
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Year
2024
Accepted
2024-10-10
Audit: 324458
Organization: Garland Voa Elderly Housing, INC (castleglen Place Apts) (VA)
Auditor: Maddox & Associates Apc

AI Summary

  • Issue: Surplus cash was not deposited into the Residual Receipts account.
  • Trend: This could lead to cash management problems and affect financial reporting accuracy.
  • Follow-up: Ensure regular deposits of surplus cash and review procedures for compliance.

Finding Text

Surplus cash was not deposited into the Residual Receipts account.

Categories

Cash Management HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $4.07M
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.73M
14.195 Section 8 Housing Assistance Payments Program $72,431