Finding 517140 (2023-001)

-
Requirement
N
Questioned Costs
$1
Year
2023
Accepted
2024-12-30

AI Summary

  • Answer: Security deposits were not refunded on time in 2023.
  • Trend: This issue indicates a pattern of delays beyond the 30-day requirement.
  • List: Follow up by reviewing refund processes and implementing a tracking system to ensure compliance.

Finding Text

During 2023, the property was not consistently refunding security deposits within a 30-day time frame.

Corrective Action Plan

Project management has returned overdue refunds. We will continue to follow established protocols regarding the return of tenant's security deposits. However, we will institute a new step to safeguard against exceeding the 30-day limit to return security deposits. All Security Deposit Requests will be submitted to the CEO, who will verify and approve the request. All security deposit checks originate from the Metro Interfaith Offices; therefore, checks will be written within seven business days of receiving the request and returned immediately to the originating property manager. Copies of the request and check will be retained in the Financial Office of Metro Interfaith.

Categories

Questioned Costs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.182 Section 8 New Construction and Substantial Rehabilitation $1.34M