Finding Text
Significant Deficiency Finding: 2024-002 Criteria: In accordance with HUD guidelines, authorities are responsible for preparing and submitting an unaudited submission in REAC system withing two months after the year end. This Authority was required to submit this report by May 31, 2024. Statement of Condition: The REAC unaudited submission was not submitted until September 25, 2024. Questioned Cost: N/A Context: N/A Cause:Due to the challenges of the passing of the Finance officer during the year and operating short-staffed, the Authority did not provide all necessary documents to the fee accountant in a timely manner. Effect:HUD and REAC were not made aware of the financial condition of the Authority in a timely manner. Identification of a repeat finding: NO Recommendation: The Board and management should make every effort to address the issues that caused this condition. Views of responsible officials and planned corrective actions: The Authority agrees with this finding and will adhere to the correction action plan in this audit report.