FAC Explorer

Finding 1236886 (2025-002)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2025
Accepted
2026-09-28
Audit: 412324
Organization: Steger Housing Development Fund Company (NY)
Auditor: EFPR GROUP CPAS PLLC

AI Summary

  • Answer: The Organization did not make monthly deposits into the replacement reserve on time.
  • Trend: This issue indicates a pattern of delayed financial management practices.
  • List: Follow up by reviewing deposit schedules, implementing reminders, and ensuring accountability for timely deposits.

Finding Text

It was observed during the audit that the Organization failed to make timely monthly deposits into the replacement reserve.

Corrective Action Plan

The Organization made any outstanding deposits to the replacement reserve during the year ended September 30, 2026.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1236885 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $159,425