Finding 587602 (2023-002)

Requirement

Questioned Costs

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

Answer: Surplus cash was not deposited on time.
Trend: This issue may indicate a pattern of delayed cash management.
List: Ensure timely deposits, review cash handling procedures, and monitor compliance regularly.

Surplus cash was not deposited into the Residual Receipts account within 90 days.

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