Finding Text
Finding #2022-001 ? Other Noncompliance Applicable federal program: U. S. Department of the Treasury Passed through Coalition for the Homeless of Houston/Harris County Coronavirus State and Local Fiscal Recovery Funds Assistance Listing #21.027 Contract #: 967571915 Contract year: 09/01/21 ? 08/31/22 Criteria: Section BB of The Beacon?s subgrantee contract requires The Beacon to maintain adequate fidelity bond coverage as set forth in 10 TAC ?1.406. Condition and context: The Beacon failed to obtain fidelity bond coverage. Cause: The Beacon did not maintain fidelity bond coverage required by the contract. Effect: Financial losses could be incurred without adequate coverage. Recommendation: Ensure The Beacon identifies and complies with all contract provisions. Views of responsible officers and planned corrective action: Management agrees with the finding. See Corrective Action Plan.