Finding 1078894 (2024-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2024-10-10

Audit: 324472

Organization: Redford Township Voa Elderly Housing, Inc. (coventry Place) (LA)

Auditor: Maddox & Associates Apc

AI Summary

Answer: Surplus cash was not deposited on time.
Trend: This issue may indicate a pattern of delayed cash management.
List: Ensure timely deposits, review cash handling procedures, and monitor compliance regularly.

Surplus cash was not deposited into the Residual Receipts account within 90 days.

ALN	Program Name	Expenditures
14.155	Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects	$3.49M
14.195	Section 8 Housing Assistance Payments Program	$455,883
14.191	Multifamily Housing Service Coordinators	$49,431