Finding 1218215 (2025-004)

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: Tenant rent amounts were inconsistent across different documents, leading to potential errors in rent calculations.
  • Impacted Requirements: All tenant documentation, including the TIC and rent roll, must align as per 24 CFR Part 982 and the HAP contract.
  • Recommended Follow-Up: Implement a review process to ensure tenant rent consistency before submitting documents to the public housing authority.

Finding Text

Finding 2025-004: Eligibility – Inconsistent Tenant Rent Across Documentation – Significant Deficiency Condition: During testing of tenant files, two instances where the tenant rent on the rent roll / rent change notice (Subsidy Adjustment Notice) did not agree to the tenant rent on the Tenant Income Certification (TIC). Criteria: Tenant rent and subsidy amounts must be consistent across all tenant file documentation, including the TIC, rent roll, and subsidy adjustment notices, in accordance with 24 CFR Part 982 and the HAP contract. Effect: This issue increases the risk of incorrect tenant rent, improper subsidy payments, and potential questioned costs. Cause: Inadequate internal controls and insufficient supervisory review to ensure agreement between related tenant documents. Recommendation: We recommend management establish a review process to ensure tenant rent amounts are reconciled and consistent across the TIC, rent roll, and all subsidy adjustment notices prior to submission to the public housing authority. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding. Management will implement a secondary review process to reconcile tenant rent amounts across all documentation before finalizing rent changes or submitting files to the PHA.

Corrective Action Plan

Finding 2025-004: Eligibility- Inconsistent Tenant Rent Across Documentation Type: Significant Deficiency Condition: During testing of tenant files, two instances where the tenant rent on the rent roll/rent change notice (Subsidy Adjustment Notice) did not agree to the tenant rent on the Tenant Income Certification. Management agrees with the finding. Management will implement a secondary review process to reconcile tenant rent amounts across all documentation before finalizing rent changes or submitting files to the PHA. A. Management will coordinate with Compliance Manager to establish a review process to ensure tenant rent amounts are reconciled and consistent across the TIC, rent roll, and all subsidy adjustment notices prior to submission to the public housing authority. Contact for Corrective Action: Cornelia Reith anticipated Completion date:12/31/26

Categories

HUD Housing Programs Eligibility Significant Deficiency

Other Findings in this Audit

  • 1218213 2025-002
    Material Weakness Repeat
  • 1218214 2025-003
    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