Finding Text
Finding 2024-007: Year End Reporting
Rural Rental Housing Loan - 10.415, Rural Rental Housing Assistance – 10.427
Repeat Finding 2023-007
Noncompliance/Material Weakness
Criteria: The Authority is responsible for completing and submitting Form RD 3560-7, Form RD 3560-10 and Attachment 4-F, Performance Standards Borrower Self-Certification Letter, within 90 days following the close of the project year end.
Condition: We had requested copies of Form RD 3560-7, Form RD 3560-10 and Attachment 4-F for the yead ended March 31, 2024 and was unable to provide evidence that they were submitted and as a result we were unable to test the figures submitted.
Cause: The Authority was unable to document that the reports were filed.
Effect or Potential Effect: The Authority was in material noncompliance with U.S.D.A. Rural Development reporting requirements.
Recommendation: The Authority should establish a procedure to complete the reports within the required timeframe and maintain records of what was submitted.
View of the Responsible Officials of the Auditee: The auditee’s management agrees with the finding.