Finding 1218179 (2025-001)

Material Weakness Repeat Finding
Requirement
E
Questioned Costs
-
Year
2025
Accepted
2026-06-23
Audit: 404385
Organization: Lake Pepin Plaza LLC (MN)
Auditor: BRADY MARTZ PLLC

AI Summary

  • Core Issue: SEMMCHRA incorrectly calculated tenant income, affecting eligibility for assistance.
  • Impacted Requirements: Accurate income verification is required under 2 CFR section 200.208 for federal funding.
  • Recommended Follow-Up: Review and enhance internal controls to ensure proper documentation and calculations are consistently verified.

Finding Text

2025-001 Eligibility Federal Program U.S. Department of Agriculture AL #10.415 – Significant Deficiency Grant Award No. Rural Rental Housing Loans Federal Award Year 2025 Criteria As a condition of funding, the SEMMCHRA must provide accurate information and documentation to verify income eligibility (2 CFR section 200.208). Condition During review of tenant files, we noted one instance in which the SEMMCHRA did not use the correct income amount in their calculation to determine a tenant’s eligibility for assistance. Questioned Costs None Context We tested a sample of 14 of the Authority’s 131 tenant files and found that an improper calculation was performed in one tenant file. Effect Tenants who do not meet eligibility requirements may receive assistance. Cause Lack of appropriate review of tenant income calculations. Repeat Finding Not a repeat finding. Recommendation We recommend the SEMMCHRA reviews its internal control procedures to ensure a quality control review is performed to verify all required documentation and calculations are maintained in the tenant files. Views of Responsible Officials Management recognizes the deficiency and plans to implement the auditor’s recommendation.

Corrective Action Plan

Contact Person Patricia Heraty, Accountant Corrective Action Plan Management plans to review its internal control procedures to ensure a quality control review is performed to verify all required documentation and calculations are maintained in the tenant files. Planned Completion Date for CAP Immediately.

Categories

Eligibility Significant Deficiency Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1218177 2025-001
    Material Weakness Repeat
  • 1218178 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.871 SECTION 8 HOUSING CHOICE VOUCHERS $3.58M
10.427 RURAL RENTAL ASSISTANCE PAYMENTS $309,049
14.850 PUBLIC HOUSING OPERATING FUND $254,785
14.872 PUBLIC HOUSING CAPITAL FUND $111,798
10.415 RURAL RENTAL HOUSING LOANS $71,264
14.896 FAMILY SELF-SUFFICIENCY PROGRAM $39,801