2024-001
Department of the Treasury
Federal Financial Assistance Listing #21.027
Coronavirus State and Local Relief Funds, Workforce Housing
Procurement, Suspension, and Debarment
Significant Deficiency in Internal Control over Compliance
Finding Summary: As part of the testing, the auditors selected a sample of 3 subrecipients for the Workforce Housing program. Of the 3 subreceipients, there was one instance where one of the required documents indicating the approved recipient was not debarred was not retained.
Responsible Individuals:
Cory Phelps, VP Project Finance
Corrective Action Plan:
IHFA has updated its WFH checklist (as of October 2, 2024) to include OFAC checks needing to be printed to the file. Although this was being done in practice, the checklist did not previously reflect or list this as an individual step. IHFA employees involved in WFH have received the updated checklist and have received training to clarify when OFAC and debarment checks need to be completed. Before funds of WFH are dispersed, a second reviewer will verify that all required documentation was printed to the WFH folder and will initial the checklist.
Anticipated Completion Date: December 31, 2024