FAC Explorer

Finding 502440 (2024-001)

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Requirement
C
Questioned Costs
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Year
2024
Accepted
2024-10-10
Audit: 324455
Organization: Knox County Voa Elderly Hsg, Inc. (candleridge Plaza) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Issue: Monthly Section 8 Housing Assistance Payments were not properly offset.
  • Trend: This oversight could lead to ongoing discrepancies in financial reporting.
  • Follow-up: Review and implement a process to ensure accurate offsets in future payments.

Finding Text

The project did not offset the monthly section 8 Housing Assistance Payments.

Corrective Action Plan

Management agrees with the finding. The excess funds were accrued to offset future Section 8 HAP requests.

Categories

HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.21M
14.195 Section 8 Housing Assistance Payments Program $515,114
14.191 Multifamily Housing Service Coordinators $46,334