FAC Explorer

Finding 399377 (2023-003)

Significant Deficiency
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

  • Answer: There is a significant deficiency in how capital asset disposals are managed, leading to potential financial inaccuracies.
  • Trend: This issue has been recurring, indicating a need for improved oversight and processes in asset management.
  • List: Recommend conducting a thorough review of disposal procedures, implementing stricter controls, and providing training for staff involved in asset management.

Finding Text

CAPITAL ASSET DISPOSALS (significant deficiency)

Corrective Action Plan

Management will provide an annual capital asset inventory and reconciliation.

Categories

Significant Deficiency

Other Findings in this Audit

  • 399375 2023-001
    Material Weakness
  • 399376 2023-002
    Material Weakness Repeat
  • 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