FAC Explorer

Finding 480539 (2023-001)

- Repeat Finding
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-08-06
Audit: 316737
Organization: Housing and Redevelopment Authority of the City of Worthington (MN)
Auditor: Abdo LLP

AI Summary

  • Core Issue: The HRA lacks required depository agreements with banks.
  • Impacted Requirements: This violates federal regulations under Code of Federal Regulations § 982.156.
  • Recommended Follow-Up: HRA management should finalize the necessary forms with the bank to achieve compliance.

Finding Text

2023-001 Depository Agreements U.S. Department of Housing and Urban Development Section 8 Housing Voucher Program 14.871 Condition: During the audit we noted the HRA did not have depository agreements with the banks. Criteria: Code of Federal Regulations § 982.156 requires depository agreements to be deposited with a financial institution selected as depositary by the PHA in accordance with HUD requirements. Cause: The HRA did not have all necessary forms for single audit compliance. Effect: The HRA is not in compliance with Federal Award Programs. Recommendation: We recommend the HRA management complete the necessary forms with the bank to ensure compliance. Management Response: The HRA’s management will complete the depository agreement forms with the bank.

Corrective Action Plan

Explanation of Disagreement with Audit Finding: There is no disagreement with the audit finding. Actions Planned in Response to Finding: The HRA will complete the depository agreements. Official Responsible for Ensuring CAP: Tanner Rogers, Executive Director, is the official responsible for ensuring corrective action. Planned Completion Date for CAP: The planned completion date is December 31, 2024. Plan to Monitor Completion of CAP: The Board will be monitoring this corrective action plan and believes the Executive Director will remedy this finding. Tanner Rogers Executive Director

Categories

HUD Housing Programs

Other Findings in this Audit

  • 480540 2023-002
    Significant Deficiency Repeat
  • 480541 2023-001
    - Repeat
  • 480542 2023-002
    Significant Deficiency Repeat
  • 1056981 2023-001
    - Repeat
  • 1056982 2023-002
    Significant Deficiency Repeat
  • 1056983 2023-001
    - Repeat
  • 1056984 2023-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $1.34M
14.872 Public Housing Capital Fund $284,238
14.850 Public and Indian Housing $205,881
14.871 Section 8 Housing Emergency Housing Vouchers $90,326