FAC Explorer

Finding 399376 (2023-002)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-06-03
Audit: 307880
Organization: Albuquerque Housing Authority (NM)
Auditor: Nm Office of the State Auditor

AI Summary

  • Core Issue: There is a significant internal control weakness affecting financial reporting, specifically related to unaudited Financial Data Statements (FDS).
  • Impacted Requirements: This deficiency compromises compliance with financial reporting standards and increases the risk of inaccurate financial information.
  • Recommended Follow-Up: Implement corrective actions to strengthen internal controls and ensure timely audits of financial statements.

Finding Text

INTERNAL CONTROL DEFICIENCY OVER FINANCIAL REPORTING - UNAUDITED FDS (material weakness)

Corrective Action Plan

Management will provide a dual review on the unaudited FDS for accuracy and completeness. Hired a consultant to review process.

Categories

Internal Control / Segregation of Duties Material Weakness Reporting

Other Findings in this Audit

  • 399375 2023-001
    Material Weakness
  • 399377 2023-003
    Significant Deficiency
  • 399378 2023-004
    Significant Deficiency
  • 975817 2023-001
    Material Weakness
  • 975818 2023-002
    Material Weakness Repeat
  • 975819 2023-003
    Significant Deficiency
  • 975820 2023-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $23.09M
14.850 Public and Indian Housing $3.52M
14.872 Public Housing Capital Fund $2.42M
14.218 Community Development Block Grants/entitlement Grants $776,352
14.871 Emergency Vouchers $537,675
14.879 Mainstream Vouchers $283,395
14.870 Resident Opportunity and Supportive Services - Service Coordinators $62,185
14.856 Lower Income Housing Assistance Program_section 8 Moderate Rehabilitation $51,855
14.249 Section 8 Moderate Rehabilitation Single Room Occupancy $17,320