FAC Explorer

Finding 29064 (2022-001)

-
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-01-15
Audit: 29112
Organization: Partnership for Seniors, Inc. Dba Leeds Housing for the Elderly (FL)
Auditor: Bellows Associates P A

AI Summary

  • Core Issue: The Project failed to deposit $14,057 in surplus cash into the residual receipts account within the required 90 days after the fiscal year-end.
  • Impacted Requirements: This noncompliance violates HUD regulations regarding timely deposits of surplus cash.
  • Recommended Follow-Up: Implement procedures to ensure surplus cash is identified and deposited within the 90-day timeframe at each fiscal year-end.

Finding Text

FINDING No. 2022-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Resolved. Information on Universe Population Size: Residual Receipts. Sample Size Information: Residual Receipts. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD regulations, surplus cash must be deposited into the residual receipts account within 90 days after the fiscal year-end. Statement of Condition: The Project did not deposit surplus cash of $14,057 into the residual receipts account within 90 days from the fiscal year-end. Cause: The Project did not create a residual receipts bank account in time to deposit the surplus cash into the account within the required time frame. Effect or Potential Effect: The Project is noncompliant with the HUD requirement to deposit the surplus cash into the residual receipts account within the required timeframe. Auditor Non-Compliance Code: B ? Failure to make required residual receipts deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations have been adopted. Recommendation: The Project should implement procedures to appropriately and timely identify surplus cash at each fiscal year-end and deposit those funds in the residual receipts account within 90 days after the Project?s fiscal year-end. Response Indicator: Agree. Completion Date: 02/09/2022 Response: The former accountant did not request a timely transfer of the surplus. All current accountants have been trained on the proper surplus cash procedures.

Corrective Action Plan

Oversight Agency for Audit, Partnership for Seniors, Inc., respectfully submits the following corrective action plan for the year ended September 30, 2022. Name and address of independent public accounting firm: Bellows Associates, P.A., 5401 N University Drive, Suite 201, Coral Springs, Florida 33067. Audit period: October 1, 2021 through September 30, 2022. The finding from the September 30, 2022 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. SECTION III ? FINDINGS AND QUESTIONED COSTS ? MAJOR FEDERAL AWARD PROGRAMS AUDIT FINDING NO. 2022-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Recommendation: The Project should implement procedures to appropriately and timely identify surplus cash at each fiscal year-end and deposit those funds in the residual receipts account within 90 days after the Project?s fiscal year-end. Action Taken: The former accountant did not request a timely transfer of the surplus. All current accountants have been trained on the proper surplus cash procedures. If the Oversight Agency for Audit has questions regarding these plans, please call Christine Harris at 954-835-9200. Sincerely yours, Christine Harris Accounting Manager

Categories

HUD Housing Programs Cash Management Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Section 202 Supportive Housing for the Elderly $613,911
14.195 Section 8 Housing Assistance Payments Program $253,625