Finding 1151089 (2024-001)

Requirement

Questioned Costs

Year

2024

Accepted

2025-08-26

Audit: 364928

Organization: Lancaster Village Consumer Housing Cooperative (IN)

Auditor: Comer Nowling and Associates PC

AI Summary

Answer: The Cooperative must submit audited financial statements to the REAC system.
Trend: This requirement is consistent across all cooperatives to ensure financial transparency.
List: Follow up to ensure statements are filed within the 90-day deadline after fiscal year-end.

HUD requires the Cooperative to file audited financial statements into the REAC system within 90 days after the fiscal year-end.

ALN	Program Name	Expenditures
14.126	Mortgage Insurance_cooperative Projects	$8.98M
14.195	Section 8 Housing Assistance Payments Program	$1.21M