Finding 1206391 (2024-002)

Assistance Listing (Federal award identification number and year): LIHPRHA Capital Grant, Assistance Listing No. 14.122, 122-44641 and 1996 Auditor non-compliance code: Z - Other Finding resolution status: In process Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-002: The Corporation has not submitted audited financial statements to the Federal Audit Clearinghouse after the receipt of the auditor's reports. Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Effect: The Corporation is not in compliance with the federal reporting requirements. Cause: The requirement was not communicated to management by previous auditors. Recommendation: The Corporation should submit audited financial statements to the Federal Audit Clearinghouse within the time frames required. Management's response: Management concurs with the finding and agrees with the auditor's recommendation. The audited financial statements will be submitted to the Federal Audit Clearinghouse on a go forward basis.