Finding Text
Finding reference number: #2023-007
Assistance Listing title and number (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Assistance Listing No. 14.155, Section 8 Housing Assistance Payments Program, Assistance Listing No. 14.195
Identification numbers
See SEFA
Auditor non-compliance code: P - Other
Finding resolution status: Cleared
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Repeat Finding: No
Statement of Condition #2023-007: The Form SF-SAC Single Audit Data Collection Form for the years ended March 31, 2023 and 2022 were not submitted to the federal audit clearinghouse in the required timeframe.
Criteria: Pursuant to the Uniform Guidance, the Corporation is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 days after the receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Corporation was not in compliance with Uniform Guidance.
Cause: Due to the refinancing and development activity, year-end accounting was delayed.
Recommendation: The Corporation should submit the Form SF-SAC Single Audit Data Collection Form for the years ended March 31, 2023 and 2022 as soon as practical.
Completion Date: April 30, 2024
Management Response: Management concurs with the finding and recommendation. The audited financial statements have been submitted to the federal clearinghouse. No further action is required.