FAC Explorer

Finding 1105116 (2023-008)

Material Weakness Repeat Finding
Requirement
A
Questioned Costs
-
Year
2023
Accepted
2025-03-18
Audit: 346684
Organization: Trinity Acres Housing Corporation (IL)
Auditor: Alexander Mannie & Company PC

AI Summary

  • Issue: The Corporation has an outstanding balance of $12,526.95 due to overpayment of management fees and advances.
  • Trend: The amount owed has decreased from $18,561 in prior years, but it remains unapproved by HUD.
  • Follow-up: Ensure compliance with HUD approval processes to resolve the outstanding balance.

Finding Text

In the prior years, the Corporation owed the project $18,561 for overpayment of the management fee—$9,626 and other advances—$8,935. Per audit compliance procedures, the Due to Owner was not approved by HUD and is considered a finding.. The balance due as of 12/31/2023 is $12,526.95.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 528662 2023-001
    Material Weakness Repeat
  • 528663 2023-001
    Material Weakness Repeat
  • 528664 2023-002
    Material Weakness Repeat
  • 528665 2023-002
    Material Weakness Repeat
  • 528666 2023-003
    Material Weakness
  • 528667 2023-003
    Material Weakness
  • 528668 2023-004
    Material Weakness Repeat
  • 528669 2023-004
    Material Weakness Repeat
  • 528670 2023-005
    Material Weakness
  • 528671 2023-006
    Material Weakness Repeat
  • 528672 2023-006
    Material Weakness Repeat
  • 528673 2023-007
    Material Weakness Repeat
  • 528674 2023-008
    Material Weakness Repeat
  • 528675 2023-009
    Material Weakness
  • 1105104 2023-001
    Material Weakness Repeat
  • 1105105 2023-001
    Material Weakness Repeat
  • 1105106 2023-002
    Material Weakness Repeat
  • 1105107 2023-002
    Material Weakness Repeat
  • 1105108 2023-003
    Material Weakness
  • 1105109 2023-003
    Material Weakness
  • 1105110 2023-004
    Material Weakness Repeat
  • 1105111 2023-004
    Material Weakness Repeat
  • 1105112 2023-005
    Material Weakness
  • 1105113 2023-006
    Material Weakness Repeat
  • 1105114 2023-006
    Material Weakness Repeat
  • 1105115 2023-007
    Material Weakness Repeat
  • 1105117 2023-009
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $2.81M
14.195 Project-Based Rental Assistance (pbra) $701,711