Finding 1181883 (2025-002)

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

AI Summary

  • Answer: There are gaps in the controls for managing required deposits to the replacement reserve.
  • Trend: This issue has been consistent over recent audits, indicating a need for improvement.
  • List: Review current deposit processes, enhance monitoring, and ensure compliance with regulations.

Finding Text

Controls over required deposits to the replacement 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

No categories assigned yet.

Other Findings in this Audit

  • 1181882 2025-001
    Material Weakness Repeat

Programs in Audit

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