Finding Text
S3800-010 Finding reference number 2024-001
S3800-011 Title and AL number of federal program
Supportive Housing for the Elderly #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 HUD approval is required for replacement reserve withdrawals.
S3800-030 Statement of condition The Organization made a withdrawal of $20,310 that was not approved by HUD from the replacement reserve account that was not timelydetected and corrected by the Organization's internal control.
S3800-032 Cause Management did not request HUD approval and duplicated a past HUD approved withdrawal.
S3800-033 Effect or potential effect Cash may be unavailable to meet reasonable and necessary capital obligations of the project.
S3800-035 Auditor non-compliance code A - Unauthorized withdrawals from replacement reserve account
S3800-040 Questioned costs $0
S3800-037 Property associated with the finding 062EE085
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 monitor internal controls over compliance and receive HUD approval before distributions from the replacement reserve account are authorized.
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 Management has transferred the funds into the replacement reserve account.