Finding 496298 (2023-001)

- Repeat Finding
Requirement
N
Questioned Costs
$1
Year
2023
Accepted
2024-09-10
Audit: 319189
Organization: Woodview of Cincinnati, Inc. (OH)

AI Summary

  • Core Issue: The Organization failed to make required monthly deposits into the reserve for replacements.
  • Impacted Requirements: This non-compliance violates the Regulatory Agreement regarding reserve deposits.
  • Recommended Follow-Up: Deposit $3,573 into the reserve to rectify the situation and ensure future compliance.

Finding Text

S3800-010 Finding Reference Number 2023-1 S3800-015 Type of Finding Federal Award Finding S3800-020 Criteria Compliance with the Regulatory Agreement stipulates that required deposits have to be made into the reserve for replacements. S3800-030 Statement of Condition The Organization did not meet the required monthly deposits needed into the reserve for replacements. S3800-035 Auditor Non-Compliance Code N - Reserve for Replacement Deposits S3800-037 FHA/Contract Number 046-HD024 S3800-038 Questioned Costs $3,573 S3800-050 Context The Organization did not have enough liquid funds to make the monthly reserve for replacement deposits. S3800-060 Effect Not making required deposits could result in insufficient funds to cover repairs and replacements S3800-070 Cause The Organization does not have enough liquid funds to make the monthly reserve for replacement deposits. S3800-080 Recommendation The Organization should deposit $3,573 into the reserve for replacements.

Corrective Action Plan

S3800-090 Auditor's Summary of the Auditee's Comments on the Finding and Recommendations 2023-1: We concur that the Corporation failed to make the required annual deposits to the reserve for replacement. S3800-130 Response Indicator Agree. S3800-140 Completion Date July 16, 2024 S3800-150 Response The Corporation has made the required deposit prior to issuance of the financial statement. S3800-160 Contact Person First Name Stephen S3800-180 Contact Person Last Name Tepner

Categories

Questioned Costs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $955,300
14.195 Section 8 Housing Assistance Payments Program $66,376