FAC Explorer

Finding 1168514 (2024-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2026-01-08
Audit: 380323
Organization: Hoover Seniors (CA)
Auditor: COHNREZNICK LLP

AI Summary

  • Issue: The Corporation failed to submit a complete annual financial report to HUD on time.
  • Requirement Impacted: Reports must be submitted within 90 days after the fiscal year ends, or within nine months if an owner certification is provided.
  • Recommended 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 ended December 31, 2024 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, 2024 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

  • 1168511 2024-001
    Material Weakness Repeat
  • 1168512 2024-002
    Material Weakness Repeat
  • 1168513 2024-003
    Material Weakness Repeat
  • 1168515 2024-002
    Material Weakness Repeat
  • 1168516 2024-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $1.18M
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $334,261