Finding Text
Federal Agency: Department of Housing and Urban Development
Federal Program Name: Supportive Housing for Persons with Disabilities
Listing Number: 14.181
Award Period: 2024
Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters
Criteria or Specific Requirement: Department of Housing and Urban Development requires any
surplus funds in the project funds account at the end of the fiscal year to be deposited in a federally insured account within 60 days following the end of the fiscal year.
Condition: As of June 30, 2024, Continuum Supportive Housing of West Hartford, Inc. has a surplus
cash of $50,759. The required deposit into a residual receipt account was not made within 60 days following the end of the fiscal year.
Questioned costs: None
Context: We reviewed the surplus cash calculation noting that the Project has a surplus cash of $50,759 at the end of the fiscal year 2024. Surplus cash should have been deposited within 60 days following the end of the fiscal year.
Cause: This was an oversight by management.
Effect: The required deposit was not made as required by the Department of Housing and Urban Development.
Repeat Finding: No
Recommendation: We recommend management to ensure that required deposits are made 60 days following the fiscal year-end.
Views of Responsible Officials: There is no disagreement with the audit finding.