FAC Explorer

Finding 11137 (2023-001)

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Requirement
B
Questioned Costs
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Year
2023
Accepted
2024-01-31
Audit: 14916
Organization: Reno Voa Elderly Housing, Inc. (sierra Manor Ii) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: Surplus cash was not deposited on time.
  • Trend: This delay could indicate a pattern of poor cash management.
  • List: Ensure timely deposits, review cash handling procedures, and monitor compliance regularly.

Finding Text

Surplus cash was not deposited into the Residual Receipts account within 60 days.

Corrective Action Plan

Management agrees with the finding. The residual receipts deficiency was funded on August 21, 2023 in the amount of $1,724. Management will ensure that the residual receipts account is properly funded in the future.

Categories

Cash Management HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $5.44M
14.239 Home Investment Partnerships Program $895,241