Finding Text
NHHI - HOPKINS BARRIER FREE HOUSING CORPORATION HUD PROJECT NO. 092-HD003-WPD SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2022 C. Findings and Questioned Costs - Major Federal Award Programs Audit Questioned Costs DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2022-001: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 Condition: The Project's replacement reserve cash balance was underfunded at September 30, 2022. Criteria: The Project did not make one month of HUD required deposits into its replacement for reserve account. Effect: The replacement reserve cash balance was $1,506 less than it should be at September 30, 2022. Context: Activity in the replacement reserve account for the year ended September 30, 2022 was tested. No sample was tested. Questioned Costs $1,506 Cause: The Project mistakenly missed one of the required monthly deposits. Recommendation: The Project should deposit $1,506 into the replacement reserve account. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management deposited $1,506 to the replacement reserve account in October 2022 when it realized the oversight. Questioned Costs - Department of Housing and Urban Development $1,506 Non-compliance code - N