Finding Text
2024-001 Noncompliance with Period of Performance (Public Housing Capital Fund ALN 14.872) Criteria: Federal Code of Regulations, CFR § 905.306, requires the Authority to obligate funds in ELOCCS when a binding agreement (executed by all parties) for work that will result in outlays of Capital Funds. Condition: During the year, the Authority made Budget Line Item 1480 – General Capital Activity draws from CFP grants 2020-2022. The General Capital Activity Draws were not reported accurately based upon the underlying expenditures and/or binding contracts in ELOCCS. Questioned Costs: None. Effect: The Authority did not properly follow the requirements of CFR § 905.306. Cause: The Authority did not have an adequate understanding of the Capital Fund Program requirements as related to reporting of Obligations and Expenditures in ELOCCS. Recommendation: The Authority’s staff should familiarize themselves with Capital Fund Program reporting requirements. Management Response: Management was unaware of the proper CFP reporting requirements related to obligations and expenditures in ELOCCS.