FAC Explorer

Finding 390431 (2023-007)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-03-30
Audit: 301229
Organization: Housing Authority of the City of Salina (KS)
Auditor: Audit Solutions LLC

AI Summary

  • Answer: The account has a significant under-funding issue, leading to a net deficit.
  • Trend: This under-funding has been a recurring problem, indicating a need for better financial management.
  • List: Follow up by reviewing funding sources, assessing cash flow, and developing a plan to address the deficit.

Finding Text

Under-funded Account Balance (Section 8 Administrative Equity Net Deficit and cash restricted underfunded)

Corrective Action Plan

To adjust as soon as possible and ensure it is not an issue in the future.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 390429 2023-005
    Material Weakness
  • 390430 2023-006
    Material Weakness
  • 966871 2023-005
    Material Weakness
  • 966872 2023-006
    Material Weakness
  • 966873 2023-007
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $1.89M
14.872 Public Housing Capital Fund $895,330
14.879 Mainstream Vouchers $295,785
14.850 Public and Indian Housing $262,861
14.238 Shelter Plus Care $21,639
14.239 Home Investment Partnerships Program $17,215
14.870 Resident Opportunity and Supportive Services - Service Coordinators $15,693