FAC Explorer

Finding 1130198 (2024-001)

Significant Deficiency
Requirement
B
Questioned Costs
$1
Year
2024
Accepted
2025-04-01
Audit: 352323
Organization: Syracuse Cooperative Federal Credit Union (PA)
Auditor: Rkl LLP

AI Summary

  • Answer: The Credit Union must keep all loan documents related to the grant.
  • Trend: Proper documentation retention is crucial for compliance and audit readiness.
  • List: Ensure all loan files are stored securely and accessible for the required duration.

Finding Text

The Credit Union should maintain all loan documentation for loans issued under the grant for the proper length of time.

Categories

Questioned Costs Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 553756 2024-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
21.024 Community Development Financial Institutions Rapid Response Program (cdfi Rrp) $658,665
21.033 Community Development Financial Institutions Fund Equitable Recovery Program (cdfi Erp) $300,000
21.025 Small Dollar Loan Program $75,261
44.002 Community Development Revolving Loan Fund Program for Credit Unions $39,151
21.020 Community Development Financial Institutions Program $33,542
14.169 Housing Counseling Assistance Program $22,516