Answer: Disbursements from restricted accounts were made without HUD approval.
Trend: This indicates a potential pattern of non-compliance with HUD regulations.
List: Follow up by ensuring all future disbursements receive proper HUD approval.
Finding Text
HUD approval was not granted for disbursements from the restricted accounts.
Corrective Action Plan
Management agrees with the finding. Since the project does not have the funds to repay the account, the management agent will loan the funds to the property.