FAC Explorer

Finding 502452 (2024-001)

- Repeat Finding
Requirement
B
Questioned Costs
-
Year
2024
Accepted
2024-10-10
Audit: 324472
Organization: Redford Township Voa Elderly Housing, Inc. (coventry Place) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Answer: Surplus cash was not deposited on time.
  • Trend: This issue may indicate a pattern of delayed cash management.
  • List: Ensure timely deposits, review cash handling procedures, and monitor compliance regularly.

Finding Text

Surplus cash was not deposited into the Residual Receipts account within 90 days.

Corrective Action Plan

Management agrees with the finding. The residual receipts account deficiency was funded on November 30, 2023 in the amount of $45,319. Management will ensure that the residual receitps account is properly funded in the future.

Categories

Cash Management 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 $3.49M
14.195 Section 8 Housing Assistance Payments Program $455,883
14.191 Multifamily Housing Service Coordinators $49,431