FAC Explorer

Finding 1153820 (2024-002)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-09-22
Audit: 366917
Organization: Trinity Community Housing CORP (IL)
Auditor: Alexander Mannie & Company PC

AI Summary

  • Core Issue: There is an unfunded amount of $2,281.53 in the security deposit accounts.
  • Impacted Requirements: The balances of the security deposit held in trust and the contra account do not align properly.
  • Recommended Follow-Up: Investigate the discrepancy and ensure all security deposits are fully funded and accurately recorded.

Finding Text

During our testing of the security deposit held in trust and security deposit liability, we noted that the 1191 Security Deposit Held in Trust balance was $20,019.47 and the 2191 Security Deposit Held in Trust (Contra) balance was $22,031.00. An unfunded amount of $2,281.53.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1153818 2024-001
    Material Weakness Repeat
  • 1153819 2024-001
    Material Weakness Repeat
  • 1153821 2024-002
    Material Weakness Repeat
  • 1153822 2024-003
    Material Weakness Repeat
  • 1153823 2024-003
    Material Weakness Repeat
  • 1153824 2024-004
    Material Weakness Repeat
  • 1153825 2024-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.52M
14.195 Project-Based Rental Assistance (pbra) $1.11M