Finding Text
Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Unresolved 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 restricted accounts. Cause: An approved disbursement was withdrawn twice. Effect or Potential Effect: The restricted account is underfunded by the amount of the withdrawal. Auditor Non-Compliance Code: A Questioned Costs: $4,027 Reporting Views of Responsible Officials: Management agrees with the finding. Management will return the funds to the replacement reserve account. Context: HUD approval was not granted for disbursements from the restricted accounts. Recommendation: Management should return the funds to the replacement reserve account. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. Management will return the funds to the replacement reserve account. Response Indicator: Agree Completion Date: August 16, 2022 Response: Management agrees with the finding. Management will return the funds to the replacement reserve account.