Finding Text
S3800-010 Finding reference number 2024-001
S3800-011 Title and AL number of federal program Section 202 HUD Capital Advance #14.157
S3800-015 Type of finding Federal Award Finding
S3800-016 Finding resolution status Resolved
S3800-017 Information on universe population not applicable
S3800-018 Sample information not applicable
S3800-019 Identification of repeat finding and finding reference number not applicable
S3800-020 Criteria The Regulatory Agreement between HUD and the owner stipulates that project funds may be used only for expenses that are reasonable and necessary to the operation of the project.
S3800-030 Statement of condition The Organization advanced $130,000 to the management agent that was promptly repaid.
S3800-032 Cause To maintain normal operations of the project.
S3800-033 Effect or potential effect Cash be unavailable to meet reasonable and necessary obligations of the project.
S3800-035 Auditor non-compliance code G - Unauthorized loans from project assets
S3800-040 Questioned costs $0
S3800-037 Property associated with the finding 073-EE115
S3800-038 Questioned costs $0
S3800-045 Reporting views of responsible officials Management agrees.
S3800-050 Context There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure.
S3800-080 Recommendation Management should receive HUD approval before approving future loans from project assets.
S3800-090 Auditors' Summary of the Auditee's Comments on the Findings and Recommendations Management concurs.
S3800-130 Response indicator Agree
S3800-140 Anticipated Completion Date September 30, 2024
S3800-150 Response The funds were promptly repaid within the same month as disbursement.