FAC Explorer

Finding 1163472 (2025-002)

Material Weakness Repeat Finding
Requirement
G
Questioned Costs
$1
Year
2025
Accepted
2025-12-04
Audit: 373083
Organization: Oak Springs Villas, Inc. (TX)
Auditor: MADDOX & ASSOCIATES APC

AI Summary

  • Issue: Project rents were incorrectly deposited into a related project instead of the designated account.
  • Trend: This misallocation could indicate a pattern of oversight in financial management practices.
  • Follow-up: Review deposit procedures and implement checks to ensure rents are directed to the correct project accounts.

Finding Text

PROJECT RENTS WERE DEPOSITED TO A RELATED PROJECT.

Corrective Action Plan

MANAGEMENT AGREES WITH THE FINDING. THE RELATED PROJECT WILL REIMBURSE THE PROJECT FOR THE RENTS IN THE AMOUNT OF $14,054.

Categories

Questioned Costs

Other Findings in this Audit

  • 1163471 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $3.57M