Finding Text
COVID-19 – Homeowner Assistance Fund Assistance Listing Number 21.026 U.S. Department of Treasury Criteria or Specific Requirement – Reporting – Quarterly Report (PRA 1505-0269); Annual Performance Report (PRA 1505-0269). Both quarterly and annual reports are due approximately one and a half months after the end of the period. Condition – The Corporation did not file the 4th quarter of 2024 Quarterly Report and 2024 Annual Report by established deadlines. Cause – The Corporation’s internal controls did not ensure timely submission of required reports. Effect – The Corporation did not file the 4th quarter of 2024 Quarterly Report and 2024 Annual Report by established deadlines, but the reports were filed. Questioned Costs – N/A Context – Out of a sample of two quarterly reports filed during the year and one annual report filed during the year, one of the Corporation’s quarterly reports and the annual report were not submitted either prior to the established due date or extension date provided. Our sample was not designed to be statistically valid. Recommendation – We recommend the Corporation implement policies and procedures to ensure required reports are completed and filed by their respective due dates as required by the grant agreement and Uniform Guidance. Views of Responsible Officials and Planned Corrective Actions – The reports were filed late due to inadequate deadline monitoring. Management will implement procedures to ensure the timely and accurate submission of Homeowner Assistance Fund (HAF) Quarterly and Annual Performance Reports. Reporting deadlines are tracked on the Corporation’s federal reporting and compliance calendar, with oversight by the AVP of Grants Compliance and Reporting, who actively monitors reporting progress and coordinates reconciliation of financial data between the HAF Program Manager and Accounting. The AVP of Grants Compliance and Reporting reviews each completed report for accuracy and completeness, signs and dates the report, and submits it to the SVP of Federal Grants for final review and approval. The HAF Program Manager provides confirmation of successful submission through the U.S. Treasury portal. These procedures will be incorporated into the HAF Program Manual. Anticipated Completion Date: March 31, 2026