Finding Text
2025-005 - Reporting U.S. Department of Housing and Urban Development 14.871 - Housing Choice Voucher Cluster/Section 8 Housing Choice Vouchers L. Reporting - Significant Deficiency and Compliance Finding Condition: During review of the Housing Choice Voucher ("HCV") program, RBT noted that the Authority did not submit its GAAP-based March 31, 2024 audited financial information to HUD timely. Criteria: As a condition of receiving federal awards, the PHA agrees to comply with laws, regulations, and the provisions of grant agreements and contracts and to also maintain internal controls to provide reasonable assurance of compliance with these requirements. Cause: The Authority did not have controls in place to ensure appropriate audit ready information/documentation was ready in order for the audit to be conducted in a timely manner. Effect: Potential loss of funding due to noncompliance or additional noncompliance if a control is missed. Questioned Costs: None identified. Perspective: The submission of the annual audited report was not done within the required timeline, nine months after year-end. Repeat Finding: Not a repeat finding. Recommendation: RBT recommends that the Authority establish controls and prepare all required information/documentation to ensure that the Authority can submit the audited financial information to HUD timely. Auditee's Response: See corrective action plan.