FAC Explorer

Finding 50215 (2022-001)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-05-10
Audit: 43009
Organization: Woodside Village, Inc. 042-Hd112 (OH)
Auditor: Gilmore Jasion Mahler LTD

AI Summary

  • Answer: The Project missed a deadline for a required deposit to the prohibited amenities escrow in 2022.
  • Trend: This oversight led to an underfunding of $3,971 for the year ending June 30, 2022.
  • List: Follow up on ensuring timely deposits and review procedures to prevent future oversights.

Finding Text

The findings were evaluated from the regulatory and HUD guidelines. The Project did not complete a required deposit timely to the prohibited amenities escrow in 2022. This was caused by the company not being completed timely was the result of an oversight. The prohibited amenities escrow was underfunded by $3,971 for the year ended June 30, 2022.

Corrective Action Plan

Gilmore Jasion Mahler recommends management to make timely required deposits to the residual receipts reserve. Management has completed the required deposit to the prohibited amenities escrow of $3,971 in September 2022.

Categories

HUD Housing Programs Internal Control / Segregation of Duties

Other Findings in this Audit

  • 50216 2022-001
    Significant Deficiency
  • 626657 2022-001
    Significant Deficiency
  • 626658 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $961,100