Finding 513865 (2024-001)

-
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2024-12-11

AI Summary

  • Issue: One monthly net income report was not submitted to HUD, indicating a compliance gap.
  • Requirements Impacted: Monthly submission of net income reports is mandatory.
  • Recommended Follow-up: Ensure all monthly reports are filed on time; remind accountants of this requirement.

Finding Text

C. Findings and Questioned Costs - Major Federal Award Programs Audit DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2024-001: SECTION 202, ASSISTANCE LISTING NUMBER 14.157 Condition: In one of the two months tested, the report for establishing net income was not submitted to HUD. Criteria: The report for establishing net income should be submitted monthly. Effect: There is no financial effect. Context: A sample of reports for establishing net income were selected for testing completeness and accuracy. The test found one month that was not in compliance. The non-compliance did not have a financial effect. The details and results of the sample are as follows: Population - 12, Dollars - N/A, Sample - 2, Dollars - N/A, Not in Compliance - 1, Dollars - N/A, Questioned Costs - N/A, Cause: The Project missed filing a monthly net income report with HUD. Recommendation: The Project should ensure all monthly net income reports are being filed. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. The affiliate accountants will be reminded that the report for establishing net income needs to be filed monthly. Total-Department of Housing and Urban Development - N/A Non-compliance code: R

Corrective Action Plan

Albert Lea Senior Housing, Inc. respectfully submits the following corrective action plan for the year ended June 30, 2024: Name and address of independent public accounting firm: Baker Meinz & Associates, Ltd. 1000 Shelard Parkway, Suite 110 Minneapolis, MN 55426 Audit Period: June 30, 2024 The finding from the June 30, 2024 schedule of findings and questioned costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Section A of the schedule, Summary of Audit Results, does not include findings and is not addressed. FINDINGS - FINANCIAL STATEMENT AUDIT - None, FINDINGS - FEDERAL AWARD PROGRAMS AUDIT- DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2024-001: SECTION 202, ASSISTANCE LISTING NUMBER 14.157 Condition: In one of the two months tested, the report for establishing net income was not submitted to HUD. Recommendation: The Project should ensure all monthly net income reports are being filed. Action taken: The Project agrees with the finding. The affiliate accountants will be reminded that the report for establishing net income needs to be filed monthly. If the Department of Housing and Urban Development has questions regarding these plans, please call Ling Han at 651-757-3038.

Categories

HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $98,467