FAC Explorer

Finding 1222459 (2025-002)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2025
Accepted
2026-06-30
Audit: 406154
Organization: Housing Authority of the City of Bastrop. Texas (TX)
Auditor: JOHN A BLAKEWAY CPA

AI Summary

  • Core Issue: There is a material weakness in internal control regarding the liquidation of interfund receivables and payables.
  • Impacted Requirements: Monthly liquidation of interfund receivables and payables is not being followed, leading to a $32,856 balance at year-end.
  • Recommended Follow-Up: Ensure monthly liquidation of interfund balances; the Executive Director will oversee this process moving forward.

Finding Text

Allowable Costs/Cost Principles - All programs - Material weakness in internal control. Criteria or Specific Requirement: Interfund receivables and payables should be liquidated on a monthly basis. Condition: - Interfund receivables and payables are not being liquidated on a monthly basis. Cause: Unknown. Effect: At year-end the low rent program had $32,856 in receivables from other funds that was not being liquidated on a monthly basis. Questioned Costs: The interfund receivable balance of $32,856. Repeat Finding: Repeat finding. Recommendation: Interfund receivables and payables should be liquidated on a monthly basis. Response: The PHA's Executive Director will make sure the interfund balances are liquidated each month.

Corrective Action Plan

Corrective Action Plan - Interfund receivables and payables. Contact person - Executive Director, Rhonda Baxter., Executive Director, at the Bastrop Housing Authority, 502 Farm Street, Bastrop TX 78602, telephone number (512) 312-3398. Corrective action planned - Interfund receivables and payables will be liquidated each month. Anticipated completion date - Within the next year.

Categories

Allowable Costs / Cost Principles Cash Management HUD Housing Programs Material Weakness

Other Findings in this Audit

  • 1222450 2025-001
    Material Weakness Repeat
  • 1222451 2025-002
    Material Weakness Repeat
  • 1222452 2025-001
    Material Weakness Repeat
  • 1222453 2025-002
    Material Weakness Repeat
  • 1222454 2025-001
    Material Weakness Repeat
  • 1222455 2025-002
    Material Weakness Repeat
  • 1222456 2025-001
    Material Weakness Repeat
  • 1222457 2025-002
    Material Weakness Repeat
  • 1222458 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.871 SECTION 8 HOUSING CHOICE VOUCHERS $567,466
14.182 SECTION 8 NEW CONSTRUCTION $368,626
14.872 PUBLIC HOUSING CAPITAL FUND $237,653
14.850 PUBLIC HOUSING OPERATING FUND $167,517