Finding 371051 (2023-001)

FINDINGS - RELATED TO THE FINANCIAL STATEMENTS THAT ARE REQUIRED TO BE REPORTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING NO. 2023-001: Late REAC Submission Condition: The Project did not submit their financial information to H.U.D. by the required due date. Criteria: Submit the Project financial information by the required due date. Effect: REAC submission is late. Context: REAC submission should be submitted by the required due date. Cause: Procedures are in place to submit the required information by the required due date. However, due to a change in management agents, the required information was not available for a timely submission. Recommenda- tion: We recommend that the management agent and Project governance review their procedures and begin the audit earlier to ensure the financial information is available for a timely submission. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding and the auditor’s recommendations will be adopted.