Finding 1095436 (2024-001)

S3800-010 Finding reference number 2024-001 S3800-011 Title and AL number of federal program Supportive Housing for the Elderly #14.157 S3800-015 Type of finding Federal Award Finding S3800-016 Finding resolution status Complete S3800-017 Information on universe population Not applicable S3800-018 Sample information Not applicable S3800-019 Identification of repeat finding and finding reference number Not applicable S3800-020 Criteria The Regulatory Agreement between HUD and the owner stipulates that HUD approval is required for replacement reserve withdrawals. S3800-030 Statement of condition The Organization made a withdrawal of $35,217 that was not approved by HUD from the replacement reserve account. S3800-032 Cause Management did not request HUD approval and duplicated a past HUD approved withdrawal. S3800-033 Effect or potential effect Cash may be unavailable to meet resonable and necessary capital obligations of the project. S3800-035 Auditor non-compliance code A - Unauthorized withdrawals from replacement reserve account S3800-040 Questioned costs $ - S3800-037 Property associated with the finding 114EE125 S3800-038 Questioned costs $ - S3800-045 Reporting views of responsible officials Management agrees. S3800-050 Context Not applicable S3800-080 Recommendation There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. S3800-090 Auditors' Summary of the Auditee's Comments on the Findings and Recommendations Managmenet concurs. S3800-130 Response indicator Agree S3800-140 Anticipated Completion Date 9/17/2024 S3800-150 Response Management made a reimbursement of the distribution on 9/17/2024.