FAC Explorer

Finding 522280 (2022-001)

Significant Deficiency
Requirement
L
Questioned Costs
$1
Year
2022
Accepted
2025-02-06
Audit: 341556
Organization: One Oaklake Vi, LLC (TX)
Auditor: Novogradic

AI Summary

  • Answer: Management fees were not calculated correctly according to the approved rate.
  • Trend: This issue indicates a potential pattern of miscalculating fees, which could affect financial accuracy.
  • List: Review fee calculation processes, ensure compliance with approved rates, and implement regular audits to prevent future discrepancies.

Finding Text

The company did not calculate Management fees based on the approved rate.

Corrective Action Plan

The Company/Auditee will (and Has) repaid the management fees

Categories

Questioned Costs

Other Findings in this Audit

  • 1098722 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $10.77M