FAC Explorer

Finding 576064 (2021-002)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
$1
Year
2021
Accepted
2025-09-09
Audit: 365960
Organization: Salem Housing Development Corporation (NE)
Auditor: Dauby O'Connor & Zaleski LLC

AI Summary

  • Answer: The Corporation failed to deposit $107,330 into the residual receipts fund.
  • Trend: This indicates a potential pattern of non-compliance with financial obligations.
  • List: Follow up by reviewing past deposits and ensuring future compliance with fund requirements.

Finding Text

The Corporation did not make the required deposit to the residual receipts fund in the amount of $107,330.

Corrective Action Plan

Management agrees with the recommendation and will fund the residual receipts account during 2025.

Categories

Questioned Costs Cash Management HUD Housing Programs

Other Findings in this Audit

  • 576065 2021-005
    Material Weakness Repeat
  • 576066 2021-004
    Material Weakness Repeat
  • 576067 2021-003
    Material Weakness Repeat
  • 576068 2021-001
    Material Weakness Repeat
  • 576069 2021-006
    Material Weakness
  • 1152506 2021-002
    Material Weakness Repeat
  • 1152507 2021-005
    Material Weakness Repeat
  • 1152508 2021-004
    Material Weakness Repeat
  • 1152509 2021-003
    Material Weakness Repeat
  • 1152510 2021-001
    Material Weakness Repeat
  • 1152511 2021-006
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.78M
14.195 Project-Based Rental Assistance (pbra) $380,233