FAC Explorer

Finding 572064 (2024-004)

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Requirement
L
Questioned Costs
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Year
2024
Accepted
2025-07-28
Audit: 363177
Organization: Southern Iowa Regional Housing Authority (IA)
Auditor: Core CPAS

AI Summary

  • Core Issue: There is a significant issue with the contributions to the reserve fund for the Rural Rental Housing Loans program.
  • Impacted Requirements: This finding relates to compliance with federal requirements outlined in previous findings.
  • Recommended Follow-Up: Review the corrective action plan on page 98 to address the identified noncompliance.

Finding Text

FINDING 2024-004: Material Noncompliance – Reserve Fund Contributions Federal Award Identification Assistance Listing Program Title: Rural Rental Housing Loans Assistance Listing Program Number: 10.415 Federal Award ID Number and Year: N/A Federal Agency: U.S. Department of Agriculture – Rural Development Criteria See Finding 2024-002 Condition See Finding 2024-002 Repeat Finding No Questioned Costs None Statistical Sample No Context See Finding 2024-002 Effect or Potential Effect See Finding 2024-002 Cause See Finding 2024-002 Recommendation See Finding 2024-002 Auditee Response/ Corrective Action Plan See page 98.

Corrective Action Plan

See response to finding 2024-002.

Categories

Matching / Level of Effort / Earmarking Questioned Costs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $7.72M
14.850 Public Housing Operating Fund $501,670
14.872 Public Housing Capital Fund $487,227
10.427 Rural Rental Assistance Payments $262,512
10.415 Rural Rental Housing Loans $106,107
14.896 Family Self-Sufficiency Program $94,308