Finding 46704 (2022-002)

S3800-010 Finding Reference Number ? 2022-002 S3800-011 Title and CFDA Number of Federal Program ? Section 202 Capital Advance Program 14.157 S3800-015 Type of Finding ? Federal Award Finding S3800-016 Finding Resolution Status - Resolved S3800-017 Information on Universe Population Size- N/A S3800-018 Sample Size Information ? N/A S3800-019 Identification of Repeat Finding and Finding Reference Number ? N/A S3800-020 Criteria ? In accordance with the Regulatory Agreement between the Organization and HUD, the Organization is required to file the audited financial statements to the REAC system within 90-days after year-end. S3800-030 Statement of Condition ? The Organization?s audited financial statements for the fiscal year-ended September 30, 2022, were not filed into the REAC system within 90-days after year-end. S3800-032 Cause ? There were staffing shortages with management which cause the transmittal of audit documents to be delayed. S3800-033 Effect or Potential Effect ? The Organization is in violation of its HUD Regulatory Agreement. S3800-035 Auditor Non-Compliance Code - Z S3800-040 Questioned Costs ? $0 S3800-045 Reporting Views of Responsible Officials ? Management will insure the audited financial statements are filed into the REAC system within 90-days after year-end. S3800-050 Context ? The Organization?s audited financial statements for the fiscal year-ended September 30, 2022, were not filed into the REAC system within 90-days after year-end. S3800-080 Recommendation ? Management should provide the auditors with documentation in a timely manner to insure the audited financial statements are filed into the REAC system within 90-days after year-end. S3800-090 Auditor?s Summary of the Auditee?s Comments on the Finding and Recommendations ? Management should provide the auditors with documentation in a timely manner to insure the audited financial statements are filed into the REAC system within 90-days after year-end. S3800-130 Response Indicator ? Agree S3800-140 Completion Date ? May 23, 2023 S3800-150 Response ? Management will insure the audited financial statements are filed into the REAC system within 90-days after year-end.