Finding 1140382 (2024-003)

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Requirement
L
Questioned Costs
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Year
2024
Accepted
2025-06-05

AI Summary

  • Core Issue: The Corporation failed to file its annual Data Collection Form with the Federal Audit Clearinghouse.
  • Impacted Requirements: This violates the Uniform Guidance requirement to submit the form within 30 days of the audited financial statements or within nine months of year-end.
  • Recommended Follow-Up: Management should ensure timely submission of the current year's form and establish a procedure for future filings.

Finding Text

Statement of condition The Corporation has not been filing its annual Data Collection Form with the Federal Audit Clearinghouse. Criteria As required by Uniform Guidance, the Corporation is required to submit its annual Data Collection Form the earlier of within 30 days the audited financial statements are available for release or within nine months of its year end. Cause The filing of the Data Collection Form was not filed due to an administrative oversight. Effect The Corporation did not file an annual Data Collection Form. Questioned costs None Recommendation We recommend that management make arrangements to timely submit the current year Data Collection Form and put a procedure in place to timely file in future years. Views of responsible officials and corrective actions taken The Corporation is applying for their auditee unique entity identifier. When it is received, the Corporation will file the Data Collection Form for the year ended December 31, 2024 with the Federal Audit Clearinghouse.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $2.24M
14.856 Lower Income Housing Assistance Program Section 8 Moderate Rehabilitation $1.18M