Finding 1155283 (2024-003)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2024

Accepted

2025-09-25

Audit: 367530

Organization: Housing Authority of Pikeville (KY)

Auditor: Kelley Galloway Smith Goolsby Psc

AI Summary

Core Issue: The Authority failed to submit required forms for Rural Rental Housing Loans within the 90-day deadline.
Impacted Requirements: Noncompliance with 7 CFR section 3560 regarding timely reporting.
Recommended Follow-Up: Establish procedures to ensure timely submission of required reports in the future.

Finding Text

2024-003 – RURAL RENTAL HOUSING LOANS (CFDA #10.415) REPORTING Federal Program Name: Rural Rental Housing Loans Assistance Listing Number: 10.415 Federal Agency: U.S. Department of Agriculture Compliance Requirement: Reporting Criteria: 7 CFR section 3560 requires that Forms RD 3560-07 (Multi Family Housing Project Budget/Utility Allowance) and RD 3560-10 (Multi Family Housing Balance Sheet) be submitted within 90 days of year-end. Condition: The Authority did not submit the required forms for 2023. Cause: Due to management changes, the Authority did not complete the required reporting. Effect: Noncompliance with 7 CFR section 3560. Repeat Finding: No. Recommendation: We recommend that the Authority implement procedures to ensure that the reports are submitted on a timely basis.

Corrective Action Plan

Management has been pursuing changes in MINC access to ensure required access is in place to input and submit required reports. This process is close to being complete and should allow us to submit required reporting.

Other Findings in this Audit

1155281 2024-001

Material Weakness Repeat
1155282 2024-002

Material Weakness Repeat

Programs in Audit

ALN	Program Name	Expenditures
14.871	Section 8 Housing Choice Vouchers	$2.46M
14.872	Public Housing Capital Fund	$1.29M
14.850	Public and Indian Housing	$1.12M
10.415	Rural Rental Housing Loans	$767,957