Finding 1163269 (2024-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
$1
Year
2024
Accepted
2025-12-02

AI Summary

  • Issue: Surplus cash wasn't deposited into the residual receipts account within the required 90 days after year-end.
  • Trend: There is a pattern of insufficient cash balance affecting timely deposits.
  • Follow-up: Review cash management practices to ensure compliance with deposit timelines and address cash balance issues.

Finding Text

Surplus cash was not deposited into a residual receipts account within 90 days of year-end. Additionally, the full deposit was not able to be deposited due to an insufficient cash balance.

Corrective Action Plan

Management will deposit required amounts.

Categories

Questioned Costs Cash Management HUD Housing Programs

Other Findings in this Audit

  • 1163270 2024-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $34,760