FAC Explorer

Finding 11165 (2023-001)

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Requirement
B
Questioned Costs
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Year
2023
Accepted
2024-01-31
Audit: 14953
Organization: Jersey City Voa Elderly Hsg, Inc. Harborview Apts (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: Surplus cash was not deposited on time.
  • Trend: This issue may indicate a pattern of delayed 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 90 days.

Corrective Action Plan

Management agrees with the finding. The residual receipts account deficiency was funded on June 28, 2023 in the amount of $1,149. 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
14.151 Supplemental Loan Insurance_multifamily Rental Housing $8.83M
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $5.37M
14.195 Section 8 Housing Assistance Payments Program $2.15M
14.218 Community Development Block Grants/entitlement Grants $1.50M
14.191 Multifamily Housing Service Coordinators $62,290