Finding Text
Management paid funds for a surplus cash loan with the State of Utah when there was no surplus cash available. In accordance with HUD guidelines and requirements, distributions and payments may only be made after the end of any annual or semi-annual fiscal period, and when positive surplus cash is demonstrated. Noncompliance with HUD program guidelines. Management did not follow the established policies or HUD regulations because of the timing of when they believed surplus cash was available. We recommend that management should ensure to make payments only if net positive surplus cash is calculated. Z - Other. Amount of Questioned Costs - $8,183.