Finding 1169212 (2025-001)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2025

Accepted

2026-01-15

Audit: 382110

Organization: Montrose Voa Elderly Housing Iii, INC (cimarron Village) (VA)

Auditor: MADDOX & ASSOCIATES APC

AI Summary

Answer: The project failed to send excess residual receipts to HUD.
Trend: This issue indicates a pattern of non-compliance with financial reporting requirements.
List: Follow up by reviewing financial records, ensuring timely remittance, and implementing checks to prevent future occurrences.

THE PROJECT DID NOT REMIT EXCESS RESIDUAL RECEIPTS TO HUD.

Management agrees with the finding. The excess funds were accrued to submit to HUD.

ALN	Program Name	Expenditures
14.157	SUPPORTIVE HOUSING FOR THE ELDERLY	$4.42M
14.218	COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS	$571,696