Finding Text
Assistance Listing (Federal award identification number and year): Supportive Housing for
the Elderly, Assistance Listing No. 14.157, 122-EH518-WAH-NP and 1993
Auditor non-compliance code: Z - Other
Finding resolution status: Resolved
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition 2023-002: The Corporation did not furnish HUD with a complete annual
financial report within 90 days following the year ended June 30, 2023.
Criteria: Pursuant to the HUD regulatory agreement, the Corporation is required to furnish to HUD
within 90 days following the fiscal year end a complete annual financial report based upon the
examination of the books and records of the Corporation prepared in accordance with GAAP and with
the requirements of HUD, and audited in accordance with Generally Accepted Auditing Standards and
Government Auditing Standards.
Effect: The Corporation is not in compliance with the HUD regulatory agreement.
Cause: The predecessor auditor did not comply with engagement terms and failed to notify
management of his decision to not proceed with the engagement in a timely manner.
Recommendation: The Corporation should ensure the annual financial report is filed within 90 days
of year end.
Management's response: Management concurs with the finding and agrees with the auditor's
recommendation. The audited financial statements have been submitted to HUD. No further action is
required.