FAC Explorer

Finding 502427 (2024-001)

-
Requirement
A
Questioned Costs
$1
Year
2024
Accepted
2024-10-10
Audit: 324431
Organization: Balsam Terrace Voa Elderly Housing, Inc. (balsam Terrace) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: Disbursements from restricted accounts were made without HUD approval.
  • Trend: This indicates a pattern of non-compliance with HUD regulations.
  • List: Follow up by ensuring all future disbursements receive necessary HUD approvals.

Finding Text

HUD approval was not granted for disbursements from restricted accounts.

Corrective Action Plan

Management agrees with the finding. Management will reimburse the replacement reserve account for the duplicate release.

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 $4.22M