Answer: Two security deposits for former tenants were not refunded.
Trend: This issue arises from management oversight in processing refunds.
List: Management should ensure refunds are processed within 60 days as required by HUD guidelines.
Finding Text
Condition: 2 security deposits for former tenants have not been refunded; Criteria: the HUD occupancy handbook requires deposits to be returned within 60 days of move-out; Effect: None; Cause: Management oversight. Recommendation: Management should process the refunds. Management comment: Management will process the refunds.
Corrective Action Plan
After reviewing the analysis for this finding, the housing department will initiate the proper paperwork to process the refunds. William Mann, Housing Coordinator, will be the responsible party.
Categories
HUD Housing ProgramsInternal Control / Segregation of Duties