Finding 1181882 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-03-23
Audit: 393186
Organization: Omni Residence, Inc. (TX)

AI Summary

  • Issue: Delays in depositing funds into the residual receipts reserve are occurring.
  • Trend: This has been a recurring problem, affecting financial reporting and compliance.
  • Recommendation: Implement stricter timelines and monitoring processes for deposits to ensure timely compliance.

Finding Text

Controls over timely deposit to the residual receipts reserve

Corrective Action Plan

Management agrees with the findings and will implement procedures to ensure that the reserve deposits are submitted timely and completely in the future. Management submitted the residual receipts and replacement reserve deposits in the required amount on the completion date listed below, and thus the finding is considered cleared.

Categories

Cash Management HUD Housing Programs

Other Findings in this Audit

  • 1181883 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $1.37M