FAC Explorer

Finding 1169802 (2025-001)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2025
Accepted
2026-01-20
Audit: 382929
Organization: South Texas Voa Elderly Housing, Inc. (country Village Square) (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 affect budgeting 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 8 HAP requests.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1169803 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $2.07M
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM $346,190