FAC Explorer

Finding 2615 (2022-001)

Significant Deficiency Repeat Finding
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-11-28
Audit: 4423
Organization: Herbert Brooks Housing Development Fund Company, INC (NY)
Auditor: Novogradac & Company LLP

AI Summary

  • Issue: Financial statements were not submitted electronically on time.
  • Requirements Impacted: Must submit to HUD within 90 days of fiscal year-end.
  • Follow-Up: Complete the electronic submission promptly to ensure compliance.

Finding Text

Section III - Findings and Questioned Costs-Major Federal Award Program Audit Finding No. 2022-1 Statement of Condition The electronic submission of the financial statements is overdue. Criteria The financial statements must be electronically submitted to HUD through FASSUB within 90 days of fiscal year-end. Questioned Costs None Effect or potential effect The Company is in non-compliance with specific requirements of a major federal program. Cause Controls are not in place to ensure that the Company reports financial data on time. Recommendation We recommend that the electronic submission be completed as soon as possible. Reporting views of responsible officials Auditee agrees with the auditor. Auditor Noncompliance Code: K – Electronic submission verification

Corrective Action Plan

Finding Reference Number: 2022-1 Recommendation We recommend that the electronic submissions be completed as soon as possible. Reporting views of responsible officials Auditee concurs with this finding. Completion date or proposed completion date: June 15, 2023 Action(s) taken or planned on the finding Management will take steps to implement strong internal control to report financial data on time.

Categories

HUD Housing Programs Reporting

Other Findings in this Audit

  • 2616 2022-002
    Significant Deficiency Repeat
  • 2617 2022-003
    Significant Deficiency
  • 2618 2022-001
    Significant Deficiency Repeat
  • 2619 2022-002
    Significant Deficiency Repeat
  • 2620 2022-003
    Significant Deficiency
  • 579057 2022-001
    Significant Deficiency Repeat
  • 579058 2022-002
    Significant Deficiency Repeat
  • 579059 2022-003
    Significant Deficiency
  • 579060 2022-001
    Significant Deficiency Repeat
  • 579061 2022-002
    Significant Deficiency Repeat
  • 579062 2022-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $1.62M