FAC Explorer

Finding 1168506 (2023-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2026-01-08
Audit: 380322
Organization: Vermont Seniors (CA)
Auditor: COHNREZNICK LLP

AI Summary

  • Issue: The Corporation failed to submit a complete annual financial report to HUD on time.
  • Requirement: Reports must be provided within 90 days after the fiscal year ends or within nine months if a certified submission is made.
  • Follow-up: Ensure timely submission of financial reports in the future to comply with HUD requirements.

Finding Text

Condition/Context The Corporation did not furnish HUD with a complete annual financial report within ninety (90) days following the end of the fiscal year ending December 31, 2023 or within nine months of fiscal year end if an owner certified submission was furnished to HUD.

Corrective Action Plan

The Corporation should file the December 31, 2023 financial statements as soon as possible and should ensure the annual financial report is filed within 90 days in future periods or within nine months of fiscal year end if an owner certified submission was furnished to HUD.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1168503 2023-001
    Material Weakness Repeat
  • 1168504 2023-002
    Material Weakness Repeat
  • 1168505 2023-003
    Material Weakness Repeat
  • 1168507 2023-002
    Material Weakness Repeat
  • 1168508 2023-003
    Material Weakness Repeat
  • 1168509 2023-002
    Material Weakness Repeat
  • 1168510 2023-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $10.96M
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $622,191