Finding 1223674 (2025-001)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2025

Accepted

2026-07-15

Audit: 407177

Organization: Sain Mary's Home for the Elderly, Inc. (PR)

Auditor: RAO ASSOCIATES LLC

AI Summary

Answer: Management failed to deposit sufficient funds for Tenant Deposits Liability.
Trend: This issue indicates a recurring problem with financial management practices.
List: Follow up by reviewing deposit procedures, ensuring compliance with liability requirements, and implementing regular audits.

Management did not deposit the enough amount to cover Tenants Deposits Liability

Management is currently evaluating the alternatives to cover the underfunded amount

ALN	Program Name	Expenditures
14.157	SUPPORTIVE HOUSING FOR THE ELDERLY	$3.48M
14.195	PROJECT-BASED RENTAL ASSISTANCE (PBRA)	$563,844