Finding 1174612 (2025-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2025
Accepted
2026-02-19

AI Summary

  • Answer: The audit report was submitted late due to inadequate controls.
  • Trend: Timely submission of reports is crucial for compliance and funding eligibility.
  • List: Implement stronger controls to ensure future reports meet deadlines.

Finding Text

The lack of proper controls caused the submission of Required Audit Report to HUD REAC to be late. The Audit report was dated 11/25/2025. Thus, the REAC submission was late. Entities must adhere strictly to these deadlines to maintain compliance and funding eligibility.

Corrective Action Plan

Corrective Action Plan

Categories

Eligibility HUD Housing Programs

Programs in Audit

ALN Program Name Expenditures
14.157 DBA LUMENT CAPITAL-HUD LOAN GURANTEE $4.30M
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS $1.92M