Finding Text
Criteria
Excess residual receipts funds should be remitted to HUD upon receipt of HUD approval.
Condition
Management received HUD approval to remit excess residual receipts funds in the amount of
$28,043 on June 8, 2022. The funds have not been remitted to HUD as of June 30, 2024.
Cause
Controls were not in place to ensure that excess residual receipts funds were timely remitted.
Effect or Potential Effect
The Organization is not in compliance with the requirements of the Consolidated Appropriations Act
of 2016, governing Residual Receipts for PRAC program.
Questioned Costs
$28,043
Identification as a Repeat Finding
This is not a repeat finding.
Recommendation
Management should establish internal controls and procedures to ensure that excess residual
receipts reserve funds are remitted timely.
Auditor Noncompliance Code:
B. Failure to make required residual receipts deposits.
Views of Responsible Officials
Management agrees with the finding and has transferred the residual receipts. We will ensure
transfers are completed going forward.
Finding Resolution Status: Resolved