Finding Text
FINDING# 2023-001 LATE AUDIT SUBMISSION
Program: The Federal Programs are Section 811 Capital Advance (Assistance Listing 14.181) and Section 8 Housing Assistance Payments (Assistance Listing 14.195) issued by the U.S. Department of Housing and Urban Development.
Type of Finding: Other
Condition: The project did not file its annual audit within the required time frame.
Criteria: HUD requires that audits of its properties be completed within three months of the close of the entity’s fiscal year or within nine months if an Owner Certification is filed.
Effect: The entity is in violation of HUD’s audit requirements.
Cause: The property did not pay its’ prior year audit fee in a timely manner causing the December 31, 2023 audit to be delayed.
Recommendation: We recommend that the property comply with HUD’s audit requirements and ensure that the audit is submitted by the required deadline in the future.
Views of Responsible Officials and Planned Corrective Action: Management is aware and will comply with this recommendation in the future.
This finding has been repeated since 2016. Prior year finding #2022-001.