FAC Explorer

Finding 576068 (2021-001)

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

AI Summary

  • Issue: The Corporation missed the deadline for submitting audited financial statements to HUD for 2021.
  • Trend: This delay could indicate ongoing compliance issues that need attention.
  • Follow-up: Ensure timely submission of future financial statements and review processes to prevent recurrence.

Finding Text

For the year ended December 31, 2021, the Corporation did not submit audited financial statements to HUD within the required time period.

Corrective Action Plan

Management agrees with the recommendation and submitted the audited financial statements to HUD. No further action is required.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 576064 2021-002
    Material Weakness Repeat
  • 576065 2021-005
    Material Weakness Repeat
  • 576066 2021-004
    Material Weakness Repeat
  • 576067 2021-003
    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