Finding 1105250 (2022-004)

- Repeat Finding

Requirement

Questioned Costs

Year

2022

Accepted

2025-03-19

Audit: 346857

Organization: Saraland Manor, Inc. (MS)

Auditor: Alford & Rambaran LLC

AI Summary

Answer: Surplus cash from 2020 was not deposited on time.
Trend: This delay could indicate ongoing issues with cash management practices.
List: Ensure timely deposits in the future and review cash handling procedures.

Surplus cash as of December 31, 2020 was not deposited into the Project's residual receipts account within 90 days after year end.

ALN	Program Name	Expenditures
14.135	Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate	$5.95M
14.151	Supplemental Loan Insurance Multifamily Rental Housing	$2.32M
14.195	Project-Based Rental Assistance (pbra)	$898,726