Finding 596672 (2022-004)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-07-09
Audit: 18756
Organization: Longmont Housing Authority (CO)
Auditor: Eide Bailly LLP

AI Summary

  • Core Issue: The Authority failed to prepare required quarterly financial reports for 2022.
  • Impacted Requirements: This noncompliance affects the internal controls over reporting for the Coronavirus State and Local Fiscal Recovery Funds.
  • Recommended Follow-Up: Implement stronger controls to ensure timely and accurate reporting to the granting agency.

Finding Text

U.S. Department of Housing and Urban Development ? CFDA #21.027 Coronavirus State and Local Fiscal Recovery Funds Applicable Federal Award Number and Year ? CSLRF / ARPA Funds ? 2022 Reporting Significant Deficiency in Internal Control over Compliance and Noncompliance Criteria: The Program requires the Authority to prepare and provide quarterly financial status reports to the granting agency. Condition: During our testing over reporting, we noted that quarterly reports were not prepared during 2022. Cause: The Authority?s internal controls related to the reporting requirements were not operating as designed. Effect: Weaknesses in internal control over compliance could result in the Authority failing to comply with reporting requirements. Questioned Costs: N/A Context/Sampling: N/A Repeat Finding from Prior Year: No. Recommendation: We recommend that the Authority establish controls to ensure the proper reporting is prepared and submitted. View of Responsible Officials: Management agrees with the finding.

Categories

Reporting Significant Deficiency Internal Control / Segregation of Duties

Other Findings in this Audit

  • 20229 2022-004
    -
  • 20230 2022-004
    Significant Deficiency
  • 20231 2022-001
    Significant Deficiency
  • 20232 2022-002
    Significant Deficiency
  • 20233 2022-003
    Significant Deficiency
  • 596671 2022-004
    -
  • 596673 2022-001
    Significant Deficiency
  • 596674 2022-002
    Significant Deficiency
  • 596675 2022-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.871 Section 8 Housing Choice Vouchers $5.72M
21.027 Coronavirus State and Local Fiscal Recovery Funds $875,000
14.218 Community Development Block Grants/entitlement Grants $402,916
14.249 Section 8 Moderate Rehabilitation Single Room Occupancy $50,055