Finding Text
Finding #2024-001: Section 202 Supportive Housing for the Disabled, Assistance Listing 14.157 and Section 8 Housing Assistance Payments Program, Assistance Listing 14.195
Type of Finding: Significant Deficiency
Condition: The audited financial statements for the period ended September 30, 2023 were not entered into the Federal Audit Clearinghouse (FAC) system timely.
Criteria: Uniform Guidance requires the audited financial statements to be prepared in accordance with GAAP and submitted to the FAC system timely.
Questioned cost: $0
Effect: The Corporation is in violation of the compliance requirement of its major federal program.
Cause: Unknown
Repeat Finding:
No
Recommendation: We recommend the audited financial statements be submitted into the FAC system within 90 days of year end.
Management’s View: Management is in agreement with the finding. The corrective action plan is included in the audit report.
Auditor’s Comment:
CLEARED. On September 25, 2024, the Corporation submitted the September 30, 2023 financial statements to FAC.