Finding Text
ROSE COURT HUD PROJECT NO. 092-EE009 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 202, ASSISTANCE LISTING NUMBER 14.157 Condition: The Project's residual receipt reserve cash balance was underfunded by $227 at September 30, 2022. Criteria: The Project failed to make the residual receipt reserve deposit relating to the surplus cash calculation for the year ended September 30, 2021. Effect: The Project's residual receipt reserve cash balance was underfunded by $227. Context: Activity in the residual receipt reserve account for the year ended September 30, 2022 was tested. No sample was tested. Questioned Costs $227 Cause: The management company forgot to make the required residual receipt reserve deposit. Recommendation: The Project should deposit $227 into the residual receipt reserve account. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management deposited $227 into the residual receipt reserve account in November 2022. Questioned Costs - Department of Housing and Urban Development $227 Non-compliance code - B