Finding 546922 (2024-001)

Federal Agency: Department of Housing and Urban Development Federal Program Name: Supportive Housing for Persons with Disabilities Listing Number: 14.181 Award Period: 2024 Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Criteria or Specific Requirement: Department of Housing and Urban Development requires any surplus funds in the project funds account at the end of the fiscal year to be deposited in a federally insured account within 60 days following the end of the fiscal year. Condition: As of June 30, 2023, Margaret B. Mack Supportive Housing Corporation has a surplus cash of $31,588. The required deposit was not made within 60 days following the fiscal year ended June 30, 2023. Questioned Costs: None Context: We reviewed the surplus cash calculation noting that Margaret B. Mack Supportive Housing Corporation has a surplus cash of $31,588 as of June 30, 2023. The surplus cash should have been deposited within 60 days following the end of the fiscal year. Cause: This was an oversight by management. Effect: The required deposit was not made as required by the Department of Housing and Urban Development. Repeat Finding: Yes Recommendation: We recommend management to ensure that required deposits are made 60 days following the fiscal year-end. Views of Responsible Officials: There is no disagreement with the audit finding.