FAC Explorer

Finding 1148649 (2024-003)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
$1
Year
2024
Accepted
2025-07-30
Audit: 363328
Organization: Keokuk Housing Authority (IA)
Auditor: Core CPAS

AI Summary

  • Core Issue: There is a significant noncompliance with federal cash management regulations related to the Capital Fund Program.
  • Impacted Requirements: This finding repeats previous issues, indicating ongoing failures to meet federal guidelines.
  • Recommended Follow-Up: Review the corrective action plan on page 43 and ensure timely implementation to address the questioned costs of $37,550.

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 01P030501-23 Federal Agency: U.S. Department of Housing and Urban Development Criteria See Finding 2024-002 Condition See Finding 2024-002 Repeat Finding Yes Questioned Costs $37,550 Context See Finding 2024-002 Effect or Potential Effect See Finding 2024-002 Cause See Finding 2024-002 Recommendation See Finding 2024-002 Auditee Response/ Corrective Action Plan See page 43.

Categories

Questioned Costs Cash Management

Other Findings in this Audit

  • 572207 2024-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $754,095
14.872 Public Housing Capital Fund $659,854
14.850 Public Housing Operating Fund $474,026