FAC Explorer

Finding 49941 (2022-001)

- Repeat Finding
Requirement
N
Questioned Costs
$1
Year
2022
Accepted
2023-04-19
Audit: 42948
Organization: Gran Signora Development Corporation (OH)
Auditor: Stemen Mertens Stickler CPAS & Associates

AI Summary

  • Answer: The Corporation exceeded the allowed management fees, breaching HUD regulations.
  • Trend: This indicates a pattern of non-compliance with financial guidelines.
  • List: Immediate review of fee structures is needed, along with corrective actions to align with HUD requirements.

Finding Text

The Corporation paid more management fees than allowed and are in violation with their HUD regulatory agreement.

Corrective Action Plan

Management agrees with the finding and will reimburse the project for overpaid management fees.

Categories

Questioned Costs HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $1.28M
14.195 Section 8 Housing Assistance Payments Program $204,248