Finding 42165 (2022-009)

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Requirement
N
Questioned Costs
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Year
2022
Accepted
2023-03-14
Audit: 39062
Organization: Statewide Bay Landing, Inc. (RI)
Auditor: D'ambra CPA

AI Summary

  • Core Issue: Tenant security deposit refunds were issued late, violating HUD and state regulations.
  • Impacted Requirements: Refunds must be processed within 30 days of tenant move-out.
  • Recommended Follow-Up: Current management should ensure timely processing of all tenant security deposit refunds.

Finding Text

Federal program - Section 202: Criteria: HUD and state regulations specify that tenant security deposit refunds be issued within 30 days of move out; Condition: in testing tenant security refunds, I noted a late refund (1 of 2 tested) processed by the prior management agent; Cause: oversight by the prior management; Effect: tenant security deposit paid late; Recommendation: Management should make effort to refund tenant security deposits timely. Response: The current management agent will make every effort to refund tenant security deposits timely.

Corrective Action Plan

The current management agent will make every effort to refund tenant security deposits in a timely manner.

Categories

HUD Housing Programs Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $1.30M