Finding 1176387 (2023-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2026-03-04

AI Summary

  • Core Issue: The Data Collection Form was not submitted on time, violating the nine-month deadline after year-end.
  • Impacted Requirements: This affects compliance with the Uniform Guidance for CFDA 14.155 and CFDA 14.195.
  • Recommended Follow-Up: File the Data Collection Form immediately to rectify the compliance issue.

Finding Text

Mortgage Insurance for the Purchaser or Refinancing of Existing Multifamily Housing Projects, CFDA 14.155 and Section 8 Housing Assistance Program Payments, CFDA 14.195 Criteria: Reporting: The Data Collection Form is required to be submitted to the Federal Audit Clearinghouse within none months of year end. Condition: The Data Collection Form was not submitted to the Federal Audit Clearinghouse within the nine-month period for the year ended September 30, 2023. Cause: Due to delays of audit documentation from management, the audit was not able to be completed within the required time frame. Effect: The Project is not in compliance with the requirement to complete the filing required by the Uniform Guidance within nine months of its year end. Repeat Finding: 2022-001 Recommendation: The Data Collection form should be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.

Corrective Action Plan

Planned Corrective Action: The Board of Directors acknowledges the reporting deadline was not met. We have implemented significant changes in internal controls over compliance to ensure the audit is completed and submitted by the required deadlines.

Categories

HUD Housing Programs Procurement, Suspension & Debarment Reporting

Other Findings in this Audit

  • 1176388 2023-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $4.76M
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $781,263