FAC Explorer

Finding 1169224 (2025-001)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2025
Accepted
2026-01-15
Audit: 382146
Organization: New Hope Voa Elderly Housing, Inc. (north Park Plaza) (LA)
Auditor: MADDOX & ASSOCIATES APC

AI Summary

  • Issue: The project failed to offset the monthly Section 8 Housing Assistance Payments.
  • Trend: This oversight could lead to financial discrepancies and impact budget accuracy.
  • Follow-up: Review payment processes and implement checks to ensure offsets are applied correctly moving forward.

Finding Text

The project did not offset the monthly Section 8 Housing Assistance Payments.

Corrective Action Plan

Management agrees with the finding. The excess funds were accrued to offset future Section HAP requests.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1169225 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE_RENTAL AND COOPERATIVE HOUSING FOR MODERATE INCOME FAMILIES AND ELDERLY, MARKET INTEREST RATE $3.91M
14.314 ASSISTED LIVING CONVERSION FOR ELIGIBLE MULTIFAMILY HOUSING PROJECTS $3.88M
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM $1.05M