FAC Explorer

Finding 587601 (2023-001)

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Requirement
C
Questioned Costs
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Year
2023
Accepted
2024-01-31
Audit: 14942
Organization: Salina Voa Elderly Housing, Inc. (market Place Saline Apartments) (LA)
Auditor: Maddox & Associates Apc

AI Summary

  • Issue: The project failed to offset monthly Section 8 Housing Assistance Payments.
  • Trend: This led to excess Residual Receipts being paid out of operations.
  • Follow-up: Review payment processes to ensure compliance with Section 8 requirements.

Finding Text

The project did not offset the monthly Section 8 Housing Assistance Payments. The Project remitted the excess Residual Receipts out of operations.

Categories

HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.86M
14.195 Section 8 Housing Assistance Payments Program $394,238
14.191 Multifamily Housing Service Coordinators $54,185