Finding Text
Criteria: Upon resident move-outs, appropriate security deposit and prepaid rent are to be returned within 30 days after move-out Condition: Security deposits are to be returned to residents within 30 days after move-out. Cause: Due to employee turnover during the fiscal year, resident security deposits were not returned to residents within the required 30 day window or by December 31, 2024. Effect: The failure to return resident security deposits resulted in an audit finding for the Organization. Recommendations: We recommend the Organization implement and follow a checklist of procedures for moveout occurrences to ensure security deposits due upon move-out are returned in a timely manner. Views of Responsible Officials: Management agrees with the recommendations and to adhere to current internal control processes that are in place to ensure the Organization is in compliance with all requirements as it relates to their federal awards.