Finding Text
Assistance Listing (Federal award identification number and year): LIHPRHA Capital Grant, Assistance Listing No. 14.122, 122-44641 and 1996; Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate, Assistance Listing No. 14.135, 122-35766 and 2024 Auditor non-compliance code: Z - Other Finding resolution status: In process Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2025-003: The Corporation did not submit audited financial statements to the Federal Audit Clearinghouse after the receipt of the auditor's reports timely for the year ended June 30, 2024. Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Effect: The Corporation is not in compliance with the federal reporting requirements. Cause: There were delays in obtaining all of the information required to complete the audit. Recommendation: The Corporation should submit audited financial statement to the Federal Audit Clearinghouse within the time frames required. Management's response: Management concurs with the finding and recommendation. The audited financial statements were submitted on April 10, 2026.