FAC Explorer

Finding 20229 (2022-004)

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Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-07-09
Audit: 18756
Organization: Longmont Housing Authority (CO)
Auditor: Eide Bailly LLP

AI Summary

  • Core Issue: The Authority failed to prepare required quarterly financial reports for 2022.
  • Impacted Requirements: This noncompliance affects the internal controls over reporting for the Coronavirus State and Local Fiscal Recovery Funds.
  • Recommended Follow-Up: Implement stronger controls to ensure timely and accurate reporting to the granting agency.

Finding Text

U.S. Department of Housing and Urban Development ? CFDA #21.027 Coronavirus State and Local Fiscal Recovery Funds Applicable Federal Award Number and Year ? CSLRF / ARPA Funds ? 2022 Reporting Significant Deficiency in Internal Control over Compliance and Noncompliance Criteria: The Program requires the Authority to prepare and provide quarterly financial status reports to the granting agency. Condition: During our testing over reporting, we noted that quarterly reports were not prepared during 2022. Cause: The Authority?s internal controls related to the reporting requirements were not operating as designed. Effect: Weaknesses in internal control over compliance could result in the Authority failing to comply with reporting requirements. Questioned Costs: N/A Context/Sampling: N/A Repeat Finding from Prior Year: No. Recommendation: We recommend that the Authority establish controls to ensure the proper reporting is prepared and submitted. View of Responsible Officials: Management agrees with the finding.

Corrective Action Plan

Significant Deficiency in Internal Control 2022-004 Reporting Repeat finding from prior year: No Finding Summary: ? The Program requires the Authority to prepare and provide quarterly financial status reports to the granting agency. During our testing over reporting, we noted that quarterly reports were not prepared during 2022. Responsible Individuals: Housing and Community Investment Director, Housing Compliance Manager, Accounting Supervisor Corrective Action Plan: Quarterly reports were completed during the audit. We have setup calendar appointments and added this reporting to our compliance calendar. Anticipated Completion Date: May 31, 2023

Categories

Reporting Significant Deficiency Internal Control / Segregation of Duties

Other Findings in this Audit

  • 20230 2022-004
    Significant Deficiency
  • 20231 2022-001
    Significant Deficiency
  • 20232 2022-002
    Significant Deficiency
  • 20233 2022-003
    Significant Deficiency
  • 596671 2022-004
    -
  • 596672 2022-004
    Significant Deficiency
  • 596673 2022-001
    Significant Deficiency
  • 596674 2022-002
    Significant Deficiency
  • 596675 2022-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $5.72M
21.027 Coronavirus State and Local Fiscal Recovery Funds $875,000
14.218 Community Development Block Grants/entitlement Grants $402,916
14.249 Section 8 Moderate Rehabilitation Single Room Occupancy $50,055