FAC Explorer

Finding 1174611 (2025-002)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2026-02-19
Audit: 388120
Organization: Fairmount I and II (CA)
Auditor: HODGES & HAMMONS INC

AI Summary

  • Answer: Delinquent deposits occurred due to insufficient monitoring of Surplus cash deposits.
  • Trend: This issue highlights a pattern of inadequate oversight in financial processes.
  • List: Recommend implementing regular checks and balances for deposit monitoring.

Finding Text

The lack of proper monitoring of necessary deposits to Surplus cash caused the eventual deposit to be delinquent.

Corrective Action Plan

Corrective Action Plan

Categories

Subrecipient Monitoring

Other Findings in this Audit

  • 1174610 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 LUMENT CAPITAL LLC, HUD LOAN GUARNTEE $9.83M
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS $3.44M