FAC Explorer

Finding 401274 (2023-002)

-
Requirement
N
Questioned Costs
$1
Year
2023
Accepted
2024-06-19
Audit: 309294
Organization: Hickory Lane One, INC (MD)
Auditor: Tidwell Group LLC

AI Summary

  • Issue: The Corporation failed to deposit $32,764 into the Residual Receipts account.
  • Trend: This occurred because the Corporation did not receive rental assistance payments, impacting cash flow.
  • Follow-up: Review cash flow management and explore options for ensuring future deposits to the Residual Receipts account.

Finding Text

The Corporation did not make the required deposit to the Residual Receipts account. The Corporation did not receive the rental assistance payments during the year and thus did not have the cash flow to be able to make the deposits to the Residual Receipts account in the amount of $32,764.

Corrective Action Plan

The Corporation is working to make the required deposits as cash flow permits.

Categories

Questioned Costs Cash Management HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $78,449