Finding 45830 (2022-002)

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Requirement
C
Questioned Costs
-
Year
2022
Accepted
2023-06-11
Audit: 41507
Organization: Notre Dame Court, Inc. (TX)

AI Summary

  • Core Issue: The security deposit account is not fully funded, violating regulatory requirements.
  • Impacted Requirements: Procedures to ensure tenant security deposits are adequately funded were not followed.
  • Recommended Follow-Up: Management should regularly compare the cash account with the security deposit listing to ensure sufficient funds for tenant refunds.

Finding Text

Finding Reference Number: 2022-002 Type of Finding: FA Finding Resolution Status: Unresolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement requires that the balance in the security deposit account cannot be less than the security deposit obligation. Statement of Condition: The security deposit account is not fully funded. Cause: Procedures in place to ensure that tenant security deposits are fully funded were not followed. Effect or Potential Effect: The security deposits account does not have sufficient funds to make refunds to all tenants. Auditor Non-Compliance Code: M Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Context: The security deposit account is not fully funded. Recommendation: Management should compare the reconciled cash account to the security deposit listing to ensure that there is enough cash to refund all tenant deposits. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Response Indicator: Agree Completion Date: March 3, 2023 Response: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future.

Corrective Action Plan

Finding Reference Number: 2022-002 Concur or Do Not Concur: Concur Agree or Disagree with Auditor Recommendations: Agree Actions Taken or Planned on the Finding: Management agrees with the finding. The security deposit deficiency will be funded in the amount of $874. Management will ensure that the security deposits are properly funded in the future. Completion Date: March 3, 2023

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $6.58M