Finding Text
FINDING No. 2024-004: Section 8 Project Based Rental Assistance ALN 14.195
Finding Resolution Status: Unresolved.
Information on Universe Population Size: All replacement reserve deposits for the year ended June 30, 2024.
Sample Size Information: All replacement reserve deposits for the year ended June 30, 2024.
Identification of Repeat Finding and Finding Reference Number: No.
Criteria: In accordance with HUD requirements, any request to withdraw funds from the replacement reserve account must be accompanied by an approved form HUD-9250.
Statement of Condition: The Project withdrew $1,025 of excess deposits without proper authorization.
Cause: The Project did not obtain prior authorization for withdrawal of funds from the replacement reserve.
Effect or Potential Effect: The Project's lack of proper authorization for fund withdrawals may result in the improper use of funds.
Auditor Non-Compliance Code: A – Unauthorized withdrawals from replacement reserve
account
Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted.
Recommendation: The Project should ensure that all withdrawals from the replacement reserve account are accompanied by an approved form HUD-9250.
Response Indicator: Agree.
Completion Date: 06/30/2025
Response: Staff training has been provided to ensure proper procedures are followed.