FAC Explorer

Finding 529679 (2023-007)

-
Requirement
B
Questioned Costs
-
Year
2023
Accepted
2025-03-24
Audit: 347577
Organization: Trinity Community Housing CORP (IL)
Auditor: Alexander Mannie & Company PC

AI Summary

  • Issue: The Management Agent incorrectly charged 5.57% fees on miscellaneous income, despite HUD approval stating 0% for such income.
  • Trend: This mischarging occurred in multiple months: April 2023, May 2023, and December 2023.
  • Follow-up: Review and adjust the fees charged to ensure compliance with HUD guidelines and recover the $35.47 overcharge.

Finding Text

The Management Agent’s Certification approved by HUD on 2/22/2022 per page 1 of 4 1(2) Fees: stated the following: a) 5.57% of residential income collected;b)0% of commercial income collected; c) 0% of miscellaneous income collected However, the Management Agent charged the Project 5.57% of miscellaneous income collected fees for April 2023, May 2023, and December 2023, totaling $35.47.

Corrective Action Plan

The Management Agent will follow the Management Agent Certification for fees only for 5.57% of the residential income collected and reimburse the Project $35.47 for the collection of fees for miscellaneous income.

Categories

HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.62M
14.195 Project-Based Rental Assistance (pbra) $1.05M