FAC Explorer

Finding 52178 (2022-001)

-
Requirement
N
Questioned Costs
$1
Year
2022
Accepted
2023-03-28
Audit: 49629
Organization: Ahepa 232, Inc. (IN)
Auditor: Clark Schaefer Hackett & Company

AI Summary

  • Answer: The Project failed to deposit funds into the residual receipt account as required.
  • Trend: This indicates a potential pattern of non-compliance with financial regulations.
  • List: Follow up by reviewing all recent deposits and ensuring future compliance with the Regulatory Agreement.

Finding Text

The Project did not make the required deposit to the residual receipt account per the Regulatory Agreement.

Corrective Action Plan

Finding 2022-001 - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects 14.155 Concur or Do Not Concur with this Finding Concur Agree or Disagree with auditor recommendations Agree Completion Date or Proposed Completion Date September 15, 2022 Actions Taken or Planned on the Finding Management made the required deposit into the residual receipts account. Contact Person First Name Dawn Contact Person Last Name Cole

Categories

Questioned Costs

Other Findings in this Audit

  • 52179 2022-002
    Material Weakness
  • 628620 2022-001
    -
  • 628621 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.02M
14.314 Assisted Living Conversion for Eligible Multifamily Housing Projects $2.09M
14.195 Section 8 Housing Assistance Payments Program $507,096
14.191 Multifamily Housing Service Coordinators $31,392