FAC Explorer

Finding 599536 (2022-004)

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Requirement
N
Questioned Costs
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Year
2022
Accepted
2022-10-30
Audit: 25867
Organization: Henderson County Health Care Corporation - Two (KY)
Auditor: Miller Mayer Sullivan & Stevens LLP

AI Summary

  • Issue: The tenants' security deposit account was underfunded by $1,735 as of June 30, 2022.
  • Requirements: HUD guidelines require the account balance to match all outstanding security deposit obligations.
  • Follow-up: Transfer funds to the security deposit account promptly to comply with HUD requirements.

Finding Text

At June 30, 2022, the tenants' security deposit account was underfunded by $1,735. Criteria. The "Consolidated Audit Guide for Audits of HUD Programs" states that "The balance in the account must at all times be at least equal to all outstanding obligations under the account for security deposits." Cause. Unknown. Effect. The complex is in violation of HUD requirements. Recommendation. We recommend that funds be transferred to the tenants' security deposit account to adequately fund the liability to tenants as soon as possible.

Categories

HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $4.51M
14.195 Section 8 Housing Assistance Payments Program $650,892