Finding Text
Finding reference number: #2023-002
Assistance Listing title and number (federal award identification number and year): Supportive Housing for Persons with Disabilities, Assistance Listing No. 14.181 (101-HD029 and 2004)
Auditor non-compliance code: Z – Other
Finding resolution status: In process
Universe population size: In 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: 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 a complete annual financial report within ninety (90) days following the end of the fiscal year ending March 31, 2023. Additionally, Form SF-SAC Single Audit Data Collection Form for the years ended March 31, 2023 and 2022 was not submitted to the federal audit clearinghouse in the required timeframe.
Criteria: Pursuant to the Regulatory Agreement, within ninety (90) days, or such period established in writing by HUD, following the end of each fiscal year, the Corporation shall engage an independent, licensed Certified Public Accountant to audit the Corporation's annual financial report and to produce and furnish HUD an audit report in accordance with the requirements established by HUD. Additionally, pursuant to Uniform Guidance, the Corporation is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 days after the receipt of the auditor's report or nine months after the end of the audit period.
Effect or potential effect: The Corporation was not in compliance with the Regulatory Agreement and Uniform Guidance.
Cause: The Corporation was late to provide the CPA firm (Dauby, O'Connor, & Zaleski, LLC) with open items required to complete the audited financial statements.
Recommendation: The Corporation should submit the annual financial statements to HUD and Form SF-SAC Single Audit Data Collection Form for the years ended March 31, 2023 and 2022 as soon as practical.
Completion date: April 30, 2024
Management response: Management concurs with the finding and recommendation. The audited financial statements have been submitted to the federal clearinghouse. No further action is required.