Finding 386845 (2023-001)

Significant Deficiency Repeat Finding
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-03-28

AI Summary

  • Issue: The Project missed a timely deposit to the prohibited amenities escrow in 2023.
  • Impact: This oversight led to an underfunding of $3,971 for the escrow account.
  • Follow-up: Ensure future deposits to the residual receipts reserve are made on time to avoid repeat findings.

Finding Text

Finding 2023-001 Criteria The finding was evaluated from the regulatory and HUD guidelines. Statement of Condition The Project did not complete a required deposit timely to the prohibited amenities escrow in 2023. Cause The deposit not being completed timely was the result of an oversight. Effect or Potential Effect The prohibited amenities escrow was underfunded by $3,971 for the year ended June 30, 2023. Reporting Views of Responsible Officials Management has completed the required deposit to the prohibited amenities escrow of $3,971 in September 2023. Recommendation We recommend management make timely required deposits to the residual receipts reserve. Response Management has completed the required deposit to the prohibited amenities escrow of $3,971 in September 2023. Repeat finding This is a repeat finding.

Categories

HUD Housing Programs Cash Management Reporting

Other Findings in this Audit

  • 386844 2023-001
    Significant Deficiency Repeat
  • 963286 2023-001
    Significant Deficiency Repeat
  • 963287 2023-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $961,100