FAC Explorer

Finding 47973 (2022-001)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-05-10
Audit: 41227
Organization: Ottawa River Estates, Inc. 042-Hd072 (OH)
Auditor: Gilmore Jasion Mahler LTD

AI Summary

  • Issue: The Project missed a required deposit to the residual receipts reserve in 2021 due to oversight.
  • Impact: The reserve was underfunded by $3,901 for the year ending June 30, 2022.
  • Follow-up: Management has since made the deposit in September 2022, but ensure ongoing compliance with deposit timelines.

Finding Text

The findings are evaluated from the regulatory and HUD guidelines. The Project did not complete a required deposit timely to the residual receipts reserve in 2021. This was caused by the deposit not being completed timely as a result of an oversight. The residual receipts reserve was underfunded by $3,901 for the year ended June 30, 2022. Management has completed the required deposit to the residual receipts of $3,901 in September 2022.

Categories

HUD Housing Programs Cash Management

Other Findings in this Audit

  • 47972 2022-001
    Significant Deficiency
  • 624414 2022-001
    Significant Deficiency
  • 624415 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $1.24M