Finding 1228534 (2022-003)

Criteria: In accordance with the Uniform Financial Reporting Standards for HUD Housing Program, the Organization must file the financial data templates prepared with audited financial statement data to Real Estate Assessment Center no later than nine months after the Organization's fiscal year end. Condition: The Organization did not submit its Financial Data Schedule and audited financial statements for the year ended September 30, 2022 to Office of Public and Indian Housing Real Estate Assessment Center (PIH-REAC) by the required due date. Cause: The Organization did not have adequate procedures to ensure the timely filing of the financial data to PIH-REAC. Effect: Late filing has resulted in noncompliance with timely submission of financial information to PIH-REAC. Repeated Finding: See finding 2021-001 included in the Status of Prior Audit Findings. Recommendation: We recommend that the Organization improve its financial reporting process to ensure that submission of its single audit reporting package to the PIH-REAC is no later than nine months after the Organization's fiscal year end. Views of Responsible Officials and Planned Corrective Action: The audited financial statements for FY2022 will be finalized before the end of December 2024 and shortly thereafter, the audited financial statements will be transmitted to the Office of Public and Indian Housing - Real Estate Assessment Center (PIH-REAC).