Answer: The Organization failed to send excess residual receipts to HUD.
Trend: This issue indicates a pattern of non-compliance with financial remittance requirements.
List: Follow up by reviewing remittance processes, ensuring timely payments, and implementing compliance training.
Finding Text
The Organization did not remit its excess residual receipts to HUD.
Corrective Action Plan
The management of Edsil’s Place Apartments, Inc. accepts the recommendation of Deming, Malone, Livesay & Ostroff and, accordingly, management will contact HUD to ensure that all
excess residual receipts are remitted to HUD as soon as possible.