Finding 1169799 (2025-002)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2025
Accepted
2026-01-20

AI Summary

  • Answer: Surplus cash was not deposited on time.
  • Trend: This issue may indicate a pattern of delayed deposits.
  • List: Ensure timely deposits, review procedures, and monitor compliance.

Finding Text

Surplus cash was not deposited into the Residual Receipts account within 90 days.

Corrective Action Plan

Management Agrees with the finding. The residual receipts account deficiency was funded on March 31, 2025 in the amount of $80,478. Management will ensure that the residual receipts account are properly funded in the future.

Categories

Cash Management HUD Housing Programs

Other Findings in this Audit

  • 1169798 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $5.75M
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $100,000