Finding Text
Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: In Process Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: According to the regulatory agreement, disbursements from restricted funds may only be made after receiving written consent from HUD. Statement of Condition: HUD approval was not granted for disbursements from the Debt Service Savings account. Cause: HUD approval was not requested. Effect or Potential Effect: The restricted account is underfunded by the amount of the withdrawal. Auditor Non-Compliance Code: C Questioned Costs: $126,288 Reporting Views of Responsible Officials: Management agrees with the finding. Management will submit the forms for HUD?s approval. Context: HUD approval was not granted for disbursements from the restricted accounts. Recommendation: Management should submit the required forms to the HUD project manager for approval. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. Management will submit the forms for HUD?s approval. Response Indicator: Agree Completion Date: August 18, 2022 Response: Management agrees with the finding. Management will submit the forms for HUD?s approval.