Finding Text
Condition: The Project submitted the same invoice twice on two different U.S Department of Housing and Urban Development Funds Authorization forms, and therefore withdrew $5,130 from the replacement reserve account without allowable costs.
Criteria: The Project may only distribute funds from the replacement reserve upon approval from HUD and for costs related to repair and replacement needs.
Cause: Management oversight.
Effect: The Project is in violation of its regulatory agreement.
Recommendation: The Project should replenish the replacement reserve account for the $5,130 that was withdrawn in error.
View of Responsible
Officials: The Project agrees and will replenish the replacement reserve account.