Finding Text
2025-001 - REPORTING Other Matter / Significant Deficiency U.S. Department of Housing and Urban Development ALN #: 14.871 – Housing Voucher Cluster. CRITERIA Financial Reports (OMB No. 2535-0107) - Financial Assessment Sub- system, FASS-PH. The Uniform Financial Reporting Standards (24 CFR section 5.801) require PHAs to submit timely GAAP-based unaudited and audited financial information electronically to HUD. The FASSPH system is one of HUD's main monitoring and oversight systems for the HCVP. CONDITION The audited submission was required to be submitted to HUD by December 31, 2025, however, the audit was not completed until May 8, 2026. CAUSE The Authority’s internal control processes were not sufficient to ensure timely completion of the audit. EFFECT As a result of not submitting the audited FDS timely, HUD was limited in its ability to conduct monitoring and oversight of federal programs. QUESTIONED COSTS None identified. CONTEXT The Authority submits the audited FDS annually. Our testing of the reporting requirement was limited to the single occurrence of the annual filing. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority ensure all requested audit documentation is organized and provided to auditors timely to ensure a more efficient audit process and prevent future audit delays. AUDITEE’S RESPONSE AND PLANNED CORRECTIVE ACTION See Corrective Action Plan.