FAC Explorer

Finding 1173977 (2022-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2026-02-17
Audit: 387627
Organization: Salem Housing Development Corporation (NE)
Auditor: DAUBY O'CONNOR & ZALESKI LLC

AI Summary

  • Answer: The Corporation missed the deadline for submitting audited financial statements to HUD for 2022.
  • Trend: This delay could indicate ongoing issues with financial reporting processes.
  • List: Follow up by ensuring timely submissions in the future and reviewing internal controls related to financial reporting.

Finding Text

For the year ended December 31, 2022, the Corporation did not submit audited financial statements to HUD within the required time period.

Corrective Action Plan

Management agrees with the recommendation and submitted the audited financial statements to HUD. No further action is required.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1173978 2022-002
    Material Weakness Repeat
  • 1173979 2022-003
    Material Weakness Repeat
  • 1173980 2022-004
    Material Weakness Repeat
  • 1173981 2022-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $1.67M
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $383,307