Finding Text
FEDERAL AWARDS FINDING Year Ended December 31, 2022 Finding 2022-001 Federal assistance listing number and name: 10.415 Rural Rent Housing Loans Awards numbers and years: 2022 Federal agency: United States Department of Agriculture Compliance Requirement: Special tests and provisions Questioned Costs: None Criteria: Edgewater Estates and Combs Memorial did not establish or adequately fund the security deposit accounts in 2022. Condition and Context: Those Projects did not maintain the full amount of security deposit funds potentially owed to the tenants. Effect: The Projects are not in compliance with RD regulations and procedures. Cause: The Projects did not maintain the full amount of security deposit funds potentially owed to the tenants. Recommendation: The Projects should fully fund the security deposit accounts for the amounts potentially owed to tenants.