Finding 3403 (2022-001)

Requirement

Questioned Costs

Year

2022

Accepted

2023-12-05

Audit: 5299

Organization: Marian Heights INC (CT)

Auditor: Bailey Moore Glazer Schaeffer & Proto LLP

AI Summary

Core Issue: The required residual receipts deposit from 2021 was not made, leading to surplus cash remaining in the operating account.
Impacted Requirements: Surplus cash computations must be reviewed and submitted for disbursement if amounts are due.
Recommended Follow-up: Ensure that surplus cash is identified during financial reviews and properly deposited to avoid misuse of funds.

Finding Text

Finding number2022-001 CFDA Number:14.157 - Section 202 Cap Adv Grantor: HUD Questioned Costs: $0 Description of Condition: Cause of the Condition: Effect of the Condition: Recommendations: When the financial statement are reviewed the surplus cash computation be printed and submitted for disbursement if it shows an amount due. The required residual receipts deposit from 2021 was not made. The surplus cash was not noted during the review of the financial statements. The funds remained in the operating checking account and could have been used for other purposes.

Corrective Action Plan

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding number 2022-001: CFDA 14.157 - Section 202 Capital Advance Recommendation: When the financial statements are reviewed the surplus cash computation be printed and submitted for disbursement if it shows an amount due. Action Taken: The overdue deposit will be made in 2023. In the future, audited financial statements will be reviewed upon finalization and any required deposit to residual receipts will be made in a timely manner. If the U.S. Department of Housing and Urban Development has questions regarding this plan, please call Matthew Fontaine at (860) 951-9411 extension 249.

Other Findings in this Audit

579845 2022-001

-

Programs in Audit

ALN	Program Name	Expenditures
14.157	Supportive Housing for the Elderly	$6.36M
14.239	Home Investment Partnerships Program	$2.10M
14.225	Community Development Block Grants/special Purpose Grants/insular Areas	$33,343