Finding Text
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2025-002: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 Condition: A Due From Sponsor exists on the financial statements at year-end. Criteria: There should not be a Due From Sponsor on the Project's financial statements. Effect: The Due From Sponsor account was $24,491 at year-end. Context: The Due From Sponsor account was tested at December 31, 2025. No sample was tested. Questioned Costs - $24,491; Cause: The Sponsor received an insurance reimbursement check directly and did not reimburse the Project. Recommendation: The Sponsor should reimburse the Project immediately. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. The Sponsor will reimburse the Project as soon as possible. Total-Department of Housing and Urban Development $24,491; Non-compliance code - Z