FAC Explorer

Finding 1142443 (2023-002)

Significant Deficiency
Requirement
C
Questioned Costs
$1
Year
2023
Accepted
2025-06-24
Audit: 359650
Organization: Beaumont Senior Citizens Housing, Inc. (TX)
Auditor: M Group LLP

AI Summary

  • Core Issue: The Corporation failed to make the June mortgage payment on time.
  • Impacted Requirements: This violates HUD's regulatory agreement for timely payments under the mortgage agreement.
  • Recommended Follow-Up: Monitor cash flow closely and establish procedures to ensure future mortgage payments are made on time.

Finding Text

Finding #2023-002: Section 8 Housing Assistance Payments Program, CFDA: 14.195 and Mortgage Insurance Section 223(f) Insured Loan CFDA: 14.195 Condition: The June mortgage payment was not made in a timely matter. Criteria: The HUD regulatory agreement requires the Corporation to promptly make all payments due under the mortgage agreement. Effect: The Corporation is in violation of the compliance requirement of its major federal program. Questioned Cost: $32,376 Cause: Insufficient cash flow Recommendation: We recommend the Corporation monitor cash flow and implement procedures for assuring payment of the mortgage by the due dates. Auditor’s Comment: CLEARED: The mortgage payment due on June 1, 2023 was made on July 1, 2023.

Categories

Questioned Costs HUD Housing Programs Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 565999 2023-001
    Material Weakness
  • 566000 2023-001
    Material Weakness
  • 566001 2023-002
    Significant Deficiency
  • 566002 2023-003
    Significant Deficiency
  • 1142441 2023-001
    Material Weakness
  • 1142442 2023-001
    Material Weakness
  • 1142444 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.16M
14.195 Project-Based Rental Assistance (pbra) $539,511