FAC Explorer

Finding 1148505 (2024-003)

-
Requirement
C
Questioned Costs
$1
Year
2024
Accepted
2025-07-28
Audit: 363177
Organization: Southern Iowa Regional Housing Authority (IA)
Auditor: Core CPAS

AI Summary

  • Core Issue: There is significant noncompliance with federal cash management regulations related to the Capital Fund Program.
  • Impacted Requirements: Compliance with federal regulations under the U.S. Department of Housing and Urban Development for the Capital Fund Program (Assistance Listing Number 14.872).
  • Recommended Follow-Up: Review the corrective action plan on page 98 to address the questioned costs of $72,984 and ensure compliance moving forward.

Finding Text

FINDING 2024-003: Material Noncompliance with Federal Regulations – Federal Awards Compliance – Cash Management Federal Award Identification Assistance Listing Program Title: Capital Fund Program Assistance Listing Program Number: 14.872 Federal Award ID Number and Year: IA 01P117501-21 Federal Agency: U.S. Department of Housing and Urban Development Criteria See Finding 2024-001 Condition See Finding 2024-001 Repeat Finding No Questioned Costs $72,984 Statistical Sample No Context See Finding 2024-001 Effect or Potential Effect See Finding 2024-001 Cause See Finding 2024-001 Recommendation See Finding 2024-001 Auditee Response/ Corrective Action Plan See page 98.

Categories

Questioned Costs Cash Management

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $7.72M
14.850 Public Housing Operating Fund $501,670
14.872 Public Housing Capital Fund $487,227
10.427 Rural Rental Assistance Payments $262,512
10.415 Rural Rental Housing Loans $106,107
14.896 Family Self-Sufficiency Program $94,308