Finding Text
Finding reference number: 2022-004
Assistance Listing (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing 14.157 (061-EE125 and 2008)
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 2022-004: The Corporation did not furnish HUD with complete financial statements by the due date of September 30, 2023.
Criteria: Pursuant to paragraph 11(f) of the Regulatory Agreement, following the end of each fiscal year, the Corporation shall furnish HUD with a complete annual financial report. The December 31, 2022 financial statements were due to HUD on September 30, 2023.
Effect: The Corporation is not in compliance with the Regulatory Agreement.
Cause: The Sponsor was unable to obtain the required certifications to approve and submit the audit by the audit due date.
Recommendation: The Corporation should file the December 31, 2022 financial statements as soon as practical and should ensure the annual financial report is filed by the HUD deadline in future periods.
Completion Date: In Process
Management's response: Agree. The Corporation intends to submit the financial statements to HUD by January 26, 2024.