FAC Explorer

Finding 574073 (2024-002)

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Requirement
N
Questioned Costs
-
Year
2024
Accepted
2025-08-20
Audit: 364640
Organization: Housing and Redevelopment Authority of the City of Worthington (MN)
Auditor: Abdo LLP

AI Summary

  • Core Issue: The HRA lacked depository agreements with banks, violating federal regulations.
  • Impacted Requirements: Compliance with Code of Federal Regulations § 982.156 for the Section 8 Housing Voucher Program.
  • Recommended Follow-Up: Ensure all necessary forms are completed and maintained for ongoing compliance.

Finding Text

Depository Agreements U.S. Department of Housing and Urban Development Section 8 Housing Voucher Program 14.871 Condition: During the audit we noted the HRA did not have depository agreements with the banks. Criteria: Code of Federal Regulations § 982.156 requires depository agreements to be deposited with a financial institution selected as depositary by the PHA in accordance with HUD requirements. Cause: The HRA did not have all necessary forms for single audit compliance. Effect: The HRA is not in compliance with Federal Award Programs. Recommendation: We recommend the HRA management complete the necessary forms with the bank to ensure compliance. Management Response: The HRA’s management has since completed these forms in 2025.

Categories

HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.850 Public and Indian Housing $222,467
14.872 Public Housing Capital Fund $149,437
14.871 Section 8 Housing Choice Vouchers $81,600