Finding 370644 (2023-002)

-
Requirement
J
Questioned Costs
$1
Year
2023
Accepted
2024-02-27
Audit: 292353
Organization: Golden Ridge Housing Inc. (RI)
Auditor: D'ambra CPA

AI Summary

  • Core Issue: The property did not adjust tenant subsidies after a rent increase in May 2023, resulting in overpayments totaling $1,020.
  • Impacted Requirements: Subsidies must reflect current approved rents minus tenant shares, which was not followed for the affected units.
  • Recommended Follow-Up: Management has corrected the error in the January 2024 requisition, ensuring compliance moving forward.

Finding Text

Federal program - Section 202: Criteria - The subsidy due for every tenant should be based on the current approved rents less the tenant share; Condition - the property received a rent increase in May 2023 but did not change the subsidy for those units no longer entitled to it for the periods May through December 2023 and totaling $1,020; Cause - management oversight; Recommendation - management should retroactively correct the error in the next subsidy requisition. Response: management has corrected the error in the January 2024 requisition.

Corrective Action Plan

Management has corrected the error in the January 2024 requisition

Categories

Questioned Costs Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $91,469
99.999 Covid 19 $2,336