FAC Explorer

Finding 1105117 (2023-009)

Material Weakness
Requirement
B
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 Management Agent incorrectly charged 6.09% on miscellaneous income, despite HUD approval stating 0% for such fees.
  • Trend: This discrepancy indicates a potential pattern of mischarging fees that could affect financial reporting.
  • Follow-up: Review all recent charges by the Management Agent to ensure compliance with HUD guidelines and rectify any errors.

Finding Text

The Management Agent’s Certification approved by HUD on 2/22/2022 per page 1 of 4 1(2) Fees: stated the following: a) 6.09 % of residential income collected;b) 0% of commercial income collected;c) 0% of miscellaneous income collected.However, the Management Agent charged the Project 6.09% of miscellaneous income collected fees for December 2023, totaling $16.32.

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
  • 1105116 2023-008
    Material Weakness Repeat

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