FAC Explorer

Finding 1206482 (2024-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2026-04-13
Audit: 398519
Organization: Vermont Seniors (CA)
Auditor: COHNREZNICK LLP

AI Summary

  • Answer: The Corporation failed to submit a complete annual financial report to HUD on time.
  • Trend: This delay could indicate ongoing issues with financial reporting processes.
  • List: Follow up by ensuring timely submissions in the future and reviewing internal reporting practices.

Finding Text

Condition/Context The Corporation did not furnish HUD with a complete annual financial report within ninety (90) days following the end of the fiscal year ending December 31, 2024 or within nine months of fiscal year end if an owner certified submission was furnished to HUD.

Corrective Action Plan

The Corporation should file the December 31, 2024 financial statements as soon as possible and should ensure the annual financial report is filed within 90 days in future periods or within nine months of fiscal year end if an owner certified submission was furnished to HUD.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1206479 2024-001
    Material Weakness Repeat
  • 1206480 2024-002
    Material Weakness Repeat
  • 1206481 2024-003
    Material Weakness Repeat
  • 1206483 2024-002
    Material Weakness Repeat
  • 1206484 2024-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $10.96M
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $758,811