Finding 1218213 (2025-002)

Material Weakness Repeat Finding
Requirement
E
Questioned Costs
-
Year
2025
Accepted
2026-06-23
Audit: 404487
Organization: New Phoenix Park I LLC (CA)

AI Summary

  • Core Issue: Fourteen tenant files had annual recertifications completed late, with backdated effective dates.
  • Impacted Requirements: Compliance with federal regulations (24 CFR § 982.516) for timely annual recertifications and accurate documentation.
  • Recommended Follow-Up: Implement a tracking system for recertifications and enhance supervisory reviews to ensure timely completion and correct effective dates.

Finding Text

Finding 2025-002: Eligibility – Untimely Recertifications - Significant Deficiency Condition: During testing of tenant files, the auditor noted fourteen instances where the 2025 annual recertifications were not done timely. Recertifications were performed in the subsequent year, and the effective dates were backdated to reflect the current year. Criteria: The Company must administer the HAP contract in compliance with federal regulations. Annual tenant recertifications must be conducted annually and timely in accordance with 24 CFR § 982.516, with effective dates properly aligned to the tenant anniversary date. Backdating of effective dates is not permitted. The Company must ensure documentation in tenant files supports the rent and subsidy amounts reported to the public housing authority. Effect: The lack of timely recertifications increases the risk of inaccurate rent and housing assistance payments (HAP), improper HAP disbursements, and potential questioned costs. Cause: Inadequate internal controls and oversight over the tenant file and recertification process, including lack of timely monitoring and supervisory review. Recommendation: We recommend that management strengthen internal controls over tenant files by implementing a formalized tracking system for annual recertifications to ensure recertifications are completed timely and with correct effective dates. Supervisory review and approval procedures should be strengthened prior to finalizing tenant rent changes. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding. Management will implement a recertification tracking system with due date reminders and strengthen supervisory reviews to ensure all annual recertifications are completed timely with accurate effective dates.

Corrective Action Plan

Finding 2025-002: Eligibility – Untimely Recertifications Type: Significant Deficiency Condition: During testing of tenant files, the auditor identified fourteen instances in which 2025 annual recertifications were not completed in a timely manner. Recertifications were performed in the subsequent year, and effective dates were backdated to reflect the current year. Management agrees with the finding and acknowledges the need to strengthen internal controls over tenant file compliance. To address this issue, management will implement a formalized tracking system for annual recertifications to ensure they are completed timely with accurate effective dates. Additionally, supervisory review and approval procedures will be enhanced prior to finalizing tenant rent changes. A. The Compliance Manager will oversee the compliance department and ensure staff complete recertifications prior to required effective dates. B. The Property Manager will conduct weekly meetings with staff to review upcoming recertifications and monitor progress to ensure timeliness. C. Management is in the process of hiring additional staff dedicated to processing recertifications to improve timeliness and compliance. Contact for Corrective Action: Cornelia Reith anticipated Completion date:12/31/26

Categories

HUD Housing Programs Internal Control / Segregation of Duties Subrecipient Monitoring Eligibility Reporting Significant Deficiency

Other Findings in this Audit

  • 1218214 2025-003
    Material Weakness Repeat
  • 1218215 2025-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $7.65M