Issue: The project failed to offset monthly Section 8 Housing Assistance Payments.
Trend: This led to excess Residual Receipts being paid out of operations.
Follow-up: Review payment processes to ensure compliance with Section 8 requirements.
Finding Text
The project did not offset the monthly Section 8 Housing Assistance Payments. The Project remitted the excess Residual Receipts out of operations.
Corrective Action Plan
Management agrees with the finding. The excess has been remitted to HUD and managemetn has been advised on the procedure to offset Section 8 Housing Assistance Payments.