Finding Text
Financial Reporting • Context: In a review of twenty-three tenant eligibility files: • Federal Program: Public Housing Capital Fund, FALN No. 14.872 • Criteria: For modernization projects, the PHA shall submit and Actual Modernization Cost Certificate (AMCC) within 90 days after the expenditure end date. • Condition: Actual Modernization Cost Certificates (AMCC) for Capital Fund grants 501-18, 501-19, 501-20, 501-21, and 501-22 had not been completed and submitted to HUD after the required 90 days following the final expenditure date. • Effect: the PHA failed to timely inform HUD of the completion of its Capital Fund programs. • Recommendation: Internal controls should be established to ensure timely reporting of completed Capital Fund grants. • View of Responsible Officials and Planned Corrective Actions: We completed and submitted SMCC for Capital Fund programs 501-18, 501-19, 501-20, 501-21, and 501-22 on November 12, 2025. We will submit future AMCC for each grant within the 90-day deadline of the final expenditure date.