Finding Text
S3800-010 Finding Reference Number: 2024-02
S3800-011 Title and CFDA Number of Federal Program: Section 8 Housing Project-Based Cluster 14.182, Mortgage Insurance rental Housing 14.134
S3800-015 Type of Finding: Federal Award Finding
S3800-016 Finding Resolution Status Resolved
S3800-017 Information on Universe Population Size: N/A
S3800-018 Sample Size Information: N/A
S3800-019 Identification of Repeat Finding and Finding Reference Number: N/A
S3800-020 Criteria: Per Federal Audit Clearinghouse (FAC) guidance, non-profit entity project owners/agents are required to submit the data collection form and audited financial statements 30 days after the receipt of the auditors' report or 9 months after the end of the fiscal year.
S3800-030 Statement of Condition: The Project failed to submit the data collection form and financial statements for the year ended December 31, 2023 to FAC within the required timeframe. The data collection form and financial statements were due September 30, 2024, but were not submitted until November 26, 2024, resulting in a delay.
S3800-032 Cause: Records were not completed sufficiently to submit the FAC information in a timely manner.
S3800-033 Effect or Potential Effect: The failure to submit the data collection form and financial statements on time places the project in non-compliance with Office of Management and Budget's (OMB) financial reporting requirements. This non-compliance may result in administrative actions by OMB, including potential sanctions, future funding or renewal of contracts.
S3800-035 Auditor Non-Compliance Code: Z - Other
S3800-037 FHA/Contract Number: 085-11073
S3800-040 Questioned Costs: $--
S3800-045 Reporting Views of Responsible Officials: Management acknowledges the finding and is taking corrective actions to address the issue. The Project is seeking to hire additional staff and is committed to ensuring future financial statements are submitted in accordance with FAC requirements.
S3800-050 Context: For the year ended December 31, 2023, the Project did not file the FAC data
collection form by the filing deadline.
S3800-080 Recommendation: We recommend that the Project implement enhanced internal controls and procedures including establishing timelines for financial reporting, emphasizing key dates and deadlines to prevent late filing is in the future.