Finding Text
Federal agency: U.S. Department of Housing and Urban Development Criteria or specific requirement: Management is required to retain the HUD approved management agreement to ensure payments made are in accordance with HUD requirements. Condition: The Project does not have a HUD approved management agreement. Questioned costs: None Context: Management and HUD were unable to find the HUD approved agreement. Cause: Management did not retain the HUD approved management agreement. Effect: Due to the project not having a HUD approved management agreement, there is a possibility that management fees paid by the project are inaccurate. Repeat Finding: N/A Recommendation: Recommend that management work with HUD to have the current management agreement approved. Views of responsible officials: There is no disagreement with the audit finding.