Finding 1117413 (2024-002)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2025-03-31

AI Summary

  • Core Issue: Continuum Supportive Housing failed to deposit a surplus of $50,759 into a federally insured account within the required 60 days after the fiscal year-end.
  • Impacted Requirements: This finding highlights a significant deficiency in internal controls over compliance with HUD regulations regarding surplus funds.
  • Recommended Follow-Up: Management should implement a process to ensure timely deposits of surplus funds in accordance with HUD requirements.

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.

Categories

Internal Control / Segregation of Duties Significant Deficiency

Other Findings in this Audit

  • 540968 2024-001
    Significant Deficiency Repeat
  • 540969 2024-002
    Significant Deficiency
  • 540970 2024-001
    Significant Deficiency Repeat
  • 540971 2024-002
    Significant Deficiency
  • 1117410 2024-001
    Significant Deficiency Repeat
  • 1117411 2024-002
    Significant Deficiency
  • 1117412 2024-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $171,393