FAC Explorer

Finding 1216463 (2023-004)

Material Weakness Repeat Finding
Requirement
E
Questioned Costs
-
Year
2023
Accepted
2026-06-03
Audit: 402963
Organization: Mt Pleasant Housing Develpment Fund Company (NY)
Auditor: COHNREZNICK LLP

AI Summary

  • Answer: There were multiple compliance issues found in tenant lease files related to HUD regulations.
  • Trend: Seven cases of late income verification and one case of delayed annual tenant certification were noted.
  • List: Follow up on timely income verifications and ensure annual certifications are completed on schedule.

Finding Text

During the procedures applied to a sample of 8 tenant lease files, we noted the following instances of noncompliance with HUD regulations regarding tenant eligibility and the maintenance of lease files. 1. Seven instances where the project did not perform the income verification of EIV timely. 2. 1 instance where the annual tenant certification was not performed in a timely manner.

Corrective Action Plan

Concord’s Compliance Dept has implemented procedures to ensure the tenant security deposits are correctly recorded, tenant eligibility is correctly determined and that the tenant lease files are properly maintained in accordance with HUD’s requirements.

Categories

Eligibility HUD Housing Programs

Other Findings in this Audit

  • 1216461 2023-002
    Material Weakness Repeat
  • 1216462 2023-003
    Material Weakness Repeat
  • 1216464 2023-005
    Material Weakness Repeat
  • 1216465 2023-006
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $7.26M