FAC Explorer

Finding 1169647 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-01-20
Audit: 382643
Organization: Prince Hall Plaza (IN)
Auditor: COMER NOWLING AND ASSOCIATES PC

AI Summary

  • Issue: Financial statements for the year ending June 30, 2024, were not submitted to the REAC system on time.
  • Trend: This delay indicates a potential pattern of non-compliance with filing deadlines.
  • Follow-up: Ensure timely filing in the future and review processes to prevent recurrence.

Finding Text

The audited financial statements for the fiscal year-end June 30, 2024 were not filed into the REAC system within 90 days after the year-end.

Corrective Action Plan

Management will insure the audited financial statements are filed into the REAC system within 90 days after the fiscal year-end.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1169646 2025-001
    Material Weakness Repeat
  • 1169648 2025-002
    Material Weakness Repeat
  • 1169649 2025-002
    Material Weakness Repeat
  • 1169650 2025-003
    Material Weakness Repeat
  • 1169651 2025-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $1.16M
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM $324,470