Finding 48598 (2022-001)

Finding No. 2022-1 Criteria Management is required to maintain the project records and agreements in accordance with the Regulatory Agreement and HUD regulations. Condition Arcadia Place, Inc.?s HUD approved Management Agent?s Certification (form HUD- 9839-B) has expired as of December 31, 2022. Questioned Cost There are no questioned costs. Cause The procedures to ensure compliance with HUD regulations regarding maintaining project records and agreements in the required manner were not followed. Auditor Noncompliance Code Z - Other Effect Arcadia Place, Inc. is not in compliance with HUD regulations relating to maintaining the project records and agreements. Recommendations Management should submit a new Management Agent?s Certification to HUD for approval. Views of Responsible Officials Management agrees with the finding and will submit a new Management Agent?s Certification to HUD for approval in a timely manner.