FAC Explorer

Finding 1113880 (2020-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2020
Accepted
2025-03-26
Audit: 348643
Organization: Salem Housing Development Corporation (NE)
Auditor: Dauby O'Connor & Zaleski LLC

AI Summary

  • Answer: The Corporation missed the deadline for submitting audited financial statements to HUD for 2020.
  • Trend: This delay could indicate potential issues with financial reporting processes.
  • List: Follow up by ensuring timely submission of future financial statements and reviewing internal controls to prevent recurrence.

Finding Text

For the year ended December 31, 2020, the Corporation did not submit audited financial statements to HUD within the required time period.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 537438 2020-001
    Material Weakness Repeat
  • 537439 2020-002
    Material Weakness Repeat
  • 537440 2020-003
    Material Weakness Repeat
  • 537441 2020-004
    Material Weakness Repeat
  • 537442 2020-005
    Material Weakness Repeat
  • 1113881 2020-002
    Material Weakness Repeat
  • 1113882 2020-003
    Material Weakness Repeat
  • 1113883 2020-004
    Material Weakness Repeat
  • 1113884 2020-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.83M
14.195 Project-Based Rental Assistance (pbra) $369,472