Answer: The project overpaid the management agent by $2,255.
Trend: This indicates a potential pattern of expense mismanagement that needs attention.
List: Review expense approval processes and implement checks to prevent future overpayments.
Finding Text
THE PROJECT OVERPAID EXPENSES TO THE MANAGEMENT AGENT IN THE AMOUNT OF $2,255.
Corrective Action Plan
MANAGEMENT AGREES WITH THE FINDING. THE MANAGEMENT AGENT ISSUED A REFUND AND IS IN THE PROCESS OF GETTING HUD APPROVAL FOR UPDATED MANAGEMENT FEE CERTIFICATION TO ENSURE THERE ARE NO FUTURE OVERPAYMENTS.