Finding 559716 (2024-003)

-
Requirement
N
Questioned Costs
$1
Year
2024
Accepted
2025-05-06
Audit: 355603
Organization: Asi Capitola, Inc. (MN)

AI Summary

  • Core Issue: The Project's replacement reserve account was underfunded by $835 due to duplicate withdrawals for the same invoice.
  • Impacted Requirements: Compliance with funding criteria for the replacement reserve was not met, leading to questioned costs.
  • Recommended Follow-up: The Project should repay the $835 to the replacement reserve account to rectify the error.

Finding Text

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2024-003: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 Condition: The Project's replacement reserve cash balance was underfunded at December 31, 2024. Criteria: The Project made two replacement reserve withdrawals for the same invoice. Effect: The replacement reserve cash balance was $835 less than it should be at December 31, 2024. Context: Activity in the replacement reserve account for the year ended December 31, 2024 was tested. No sample was tested. Questioned costs - $835; Cause: The Project mistakenly made two replacement reserve withdrawals for the same invoice. Recommendation: The Project should repay the amount improperly withdrawn from the replacement reserve account. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will deposit $835 into the replacement reserve account. Questioned Costs - Department of Housing and Urban Development - $835; Non-compliance code - A

Corrective Action Plan

FINDING 2024-003: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 The Project made two replacement reserve withdrawals for the same invoice. Recommendation: The Project should repay the amount improperly withdrawn from the replacement reserve account. Action Taken: The Project agrees with the finding. Management will deposit $835 into the replacement reserve account. If the Department of Housing and Urban Development has questions regarding these plans, please call Ling Han at 651-645-7271.

Categories

Questioned Costs HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $312,157