Finding 394637 (2023-001)

Findings reference number: 2023-001 Title and AL Number of Federal Program: Supportive Housing for Persons with Disabilities (Section 811) CFDA 14.181 Type of finding: Federal Award Resolution Status: In process Population size: N/A Sample size: N/A Repeat finding: No Criteria: Surplus cash should be deposited to the residual receipts accounts within 60 days after year end. Condition: The review of surplus cash indicates a deposit should have been made by March 1, 2024. Cause: Management did not calculate surplus cash until a later period. Effect: Once the deposit is made, there will be some lost interest income but it should be minimal. Noncompliance code: B. Residual Receipt Questioned costs: N/A. Reporting views of officials: Auditee agrees with the finding. Context: This was noted while performing audit procedures on surplus cash. Recommendation: Management should fund the surplus amount as soon as possible. Auditee's comments: Auditee agrees with the finding and will fund the surplus cash to the residual receipts account as soon as possible. Auditors' summary of auditee's comments: They are in agreement. Completion date: 12/31/2024 Response: Management plans to fund the residual receipt account as soon as possible.