FAC Explorer

Finding 11163 (2023-001)

- Repeat Finding
Requirement
C
Questioned Costs
$1
Year
2023
Accepted
2024-01-31
Audit: 14946
Organization: Oak Park Plaza, Inc. (oak Park Plaza) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Issue: Disbursements from the Debt Service Savings account were made without HUD approval.
  • Trend: This indicates a potential pattern of non-compliance with HUD regulations.
  • Follow-up: Review and ensure all future disbursements receive necessary HUD approvals.

Finding Text

HUD approval was not granted for disbursements from the Debt Service Savings account.

Corrective Action Plan

Management agrees with the finding. Management has submitted the forms and received approval for 2023 on September 20, 2023.

Categories

Questioned Costs HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $4.97M
14.195 Section 8 Housing Assistance Payments Program $874,404
14.191 Multifamily Housing Service Coordinators $76,935