Finding Text
Statement of Condition: We reviewed 5 files (recertification, initial certification, and move-out files) for the year ended December 31, 2024. The selected files represent a sample of all files in the program.
Criteria: HUD requires that certain criteria be met when determining tenant eligibility, selecting applicants from waiting list, and calculating total tenant payments.
Effect: We noticed an instance in which the total tenant payment was miscalculated. Income imputed from assets was overstated. Total tenant income was overstated by $8.
Cause: Property management did not properly calculate imputed income from assets when determining total tenant income.
Recommendation: Property management should calculate all sources of income/allowed deductions when calculating total tenant payment.