Finding 1168135 (2025-001)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2025

Accepted

2026-01-07

Audit: 379894

Organization: Northern Kentucky Presbyterian Housing Corporation (IN)

Auditor: COMER NOWLING AND ASSOCIATES PC

AI Summary

Answer: The financial statements for the period ending March 10, 2025, were not submitted on time.
Trend: This delay indicates a potential pattern of late filings, which could affect compliance.
List: Follow up by ensuring timely submissions in the future and reviewing filing processes for improvements.

The audited financial statements for the period ended March 10, 2025, were not filed into the REAC system within 90 days after period end.

None needed

ALN	Program Name	Expenditures
14.155	MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS	$1.48M
14.195	SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM	$51,095