FAC Explorer

Finding 1164980 (2025-001)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2025
Accepted
2025-12-16
Audit: 375012
Organization: Gibb Cairo Village, Inc. (FL)
Auditor: MADDOX & ASSOCIATES APC

AI Summary

  • Answer: Surplus cash was not deposited into the residual receipts account on time.
  • Trend: This issue indicates a recurring delay in cash management practices.
  • List: Ensure timely deposits moving forward and review cash handling procedures.

Finding Text

SURPLUS CASH WAS NOT DEPOSITED INTO THE RESIDUAL RECEIPTS ACCOUNT WITHIN 90 DAYS.

Corrective Action Plan

MANAGEMENT AGREES WITH THE FINDING. THE SECURITY DEPOSIT DEFICIENCY WAS FUNDED ON OCTOBER 3, 2024, IN THE AMOUNT OF $1,802. MANAGEMENT WILL ENSURE THAT THE SECURITY DEPOSITS ARE PROPERLY FUNDED IN THE FUTURE.

Categories

Cash Management HUD Housing Programs

Programs in Audit

ALN Program Name Expenditures
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $1.59M