Finding Text
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 Financial Statement and Federal Award Finding
S3800-016 Finding resolution status Resolved
S3800-017 Information on universe population n/a
S3800-018 Sample information n/a
S3800-019 Identification of repeat finding and finding reference number n/a
S3800-020 Criteria The Management Agent Certification between HUD and the owner stipulates the required HUD approved management fee.
S3800-030 Statement of condition The Organization paid the management fee based on the previous owner's approved rate. The Organization's internal control over compliance did not timely detected and corrected this overpayment.
S3800-032 Cause Management did not identify the new HUD approved rate timely as part of the transfer of physical assets.
S3800-033 Effect or potential effect Cash may be unavailable to meet reasonable and necessary capital obligations of the project.
S3800-035 Auditor non-compliance code J - Unauthorized Management Fees
S3800-040 Questioned costs $82,053
S3800-037 Property associated with the finding 066-EE023
S3800-038 Questioned costs $82,053
S3800-045 Reporting views of responsible officials Management agrees and will work on implementing changes in agreements in a timely manner.
S3800-050 Context n/a
S3800-080 Recommendation Management should monitor internal controls over compliance.
S3800-090 Auditors' Summary of the Auditee's Comments on the Findings and Recommendations Management concurs
S3800-130 Response indicator Agree
S3800-140 Anticipated Completion Date December 3, 2024
S3800-150 Response Management repaid the excess management fee back to the property.