FAC Explorer

Finding 1224921 (2023-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2026-07-29
Audit: 408175
Organization: Salem Housing Development Corporation (NE)
Auditor: DAUBY O'CONNOR & ZALESKI LLC

AI Summary

  • Issue: The Corporation missed the deadline for submitting audited financial statements to HUD for 2023.
  • Trend: This could indicate ongoing compliance issues that may affect future submissions.
  • Follow-up: Ensure timely submission of financial statements moving forward and review processes to prevent delays.

Finding Text

For the year ended December 31, 2023, the Corporation did not submit audited financial statements to HUD within the required time period.

Corrective Action Plan

Management agrees with the recommendation and submitted the audited financial statements to HUD. No further action is required.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1224922 2023-002
    Material Weakness Repeat
  • 1224923 2023-003
    Material Weakness Repeat
  • 1224924 2023-004
    Material Weakness Repeat
  • 1224925 2023-005
    Material Weakness Repeat
  • 1224926 2023-006
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $1.67M
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $399,566