Finding Text
US Department of Housing and Urban Development Direct Award
Program Name: Housing Voucher Center Cluster Internal Control Significant Deficiency
L Reporting
AL Number: 14.871
2024-001 Unaudited Submission
Criteria: Financial Data Schedule (FDS) submission for unaudited financials are due within 2 months after the fiscal year end (24 CFR section 5.801).
Condition: Management missed the deadline for its unaudited REAC FDS submission.
Context: The Authority 's unaudited FDS submission was due on December 15th, 2024. The Authority did not submit the submission until February 2025.
Cause: Management misinterpreted the deadline for the unaudited FDS submission for PHA's.
Effect: The Authority is not in compliance with the reporting guidelines outlined in the HCV compliance supplement.
Recommendations: The Authority needs to improve its internal controls over financial reporting by submitting its financial data on a timelier basis.
Management Views: Management agrees with the finding, see Management's Corrective Action Plan.