FAC Explorer

Finding 503220 (2020-003)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2020
Accepted
2024-10-21
Audit: 325293
Organization: Housing Opportunities Mean Empowerment Two, INC (IL)
Auditor: Haran & Associates LTD

AI Summary

  • Answer: Management raised the fidelity bond insurance coverage to $150,000 in July 2022.
  • Trend: This increase reflects a proactive approach to risk management.
  • List: Ensure all relevant documentation is updated to reflect the new coverage amount.

Finding Text

Cleared - During July 2022, management increased the fidelity bond insurance coverage to $150,000.

Corrective Action Plan

a. Comments on the Finding and Each Recommendation:

Categories

No categories assigned yet.

Other Findings in this Audit

  • 503218 2020-001
    Significant Deficiency
  • 503219 2020-002
    Significant Deficiency
  • 503221 2020-001
    Significant Deficiency
  • 503222 2020-002
    Significant Deficiency
  • 503223 2020-003
    Significant Deficiency
  • 1079660 2020-001
    Significant Deficiency
  • 1079661 2020-002
    Significant Deficiency
  • 1079662 2020-003
    Significant Deficiency
  • 1079663 2020-001
    Significant Deficiency
  • 1079664 2020-002
    Significant Deficiency
  • 1079665 2020-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $5.85M