FAC Explorer

Finding 514359 (2022-001)

Significant Deficiency
Requirement
A
Questioned Costs
$1
Year
2022
Accepted
2024-12-16
Audit: 332651
Organization: The Hearth Foundation INC (TX)
Auditor: Michael Ahart CPA

AI Summary

  • Answer: Management took out $19,903 from the reserves without getting HUD's okay first.
  • Trend: This action shows a pattern of bypassing required approvals, which could lead to compliance issues.
  • List: Follow up by ensuring all future withdrawals have proper HUD approval and review current policies to prevent similar occurrences.

Finding Text

Management withdrew $19,903 from its reserves for replacements account without prior HUD approval

Corrective Action Plan

Management has contacted its HUD representative in order to obtain proper approval of the withdrawal from its reserve for replacements account

Categories

Questioned Costs HUD Housing Programs

Other Findings in this Audit

  • 514360 2022-002
    Significant Deficiency
  • 1090801 2022-001
    Significant Deficiency
  • 1090802 2022-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $1.01M
14.195 Project-Based Rental Assistance (pbra) $78,884