FAC Explorer

Finding 1213637 (2024-001)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2024
Accepted
2026-05-04
Audit: 400565
Organization: Westhaven of Englewood, Ltd. (IL)
Auditor: 842921323

AI Summary

  • Issue: Surplus cash of $10,339 was not deposited into the reserve as required.
  • Trend: This delay in deposit could indicate a pattern of non-compliance with financial protocols.
  • Follow-up: Ensure timely deposits in the future and review procedures to prevent recurrence.

Finding Text

Surplus cash of $10,339 existing at July 31, 2022 was not deposited into the residual receipts reserve within 90 days of the year end.

Corrective Action Plan

Management agrees that the amount needs to be deposited as soon as possible.

Categories

Cash Management HUD Housing Programs

Programs in Audit

ALN Program Name Expenditures
14.138 MORTGAGE INSURANCE RENTAL HOUSING FOR THE ELDERLY $3.70M
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $932,333