FAC Explorer

Finding 524462 (2023-001)

Significant Deficiency
Requirement
C
Questioned Costs
-
Year
2023
Accepted
2025-02-25
Audit: 343799
Organization: Collier Housing Alternatives, Inc. (FL)
Auditor: Saltmarsh Cleaveland & Gund

AI Summary

  • Issue: The Company lacks a separate bank account in a federally insured depository.
  • Requirement: An interest-bearing account is necessary to meet program compliance.
  • Recommendation: Open a separate interest-bearing account at a federally insured bank.

Finding Text

The Company did not maintain a separate bank account in a federally insured depository in an interest-bearing account. We recommend that the company create a separate account in a federally insured depository in an interest-bearing account to prevent noncompliance with the program requirements.

Corrective Action Plan

The Company has moved the replacement reserve funds into a separate federally insured depository in an interest bearing account as of the date of this report. The Company also always accounted for the replacement reserve seperately in their accounting system.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 524463 2023-002
    Significant Deficiency
  • 1100904 2023-001
    Significant Deficiency
  • 1100905 2023-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $846,421