Finding Text
ASI WOODLANDS SENIOR HOUSING, INC. HUD PROJECT NO. 114-EE106 SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED) YEAR ENDED JUNE 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 security deposit liability account was underfunded at June 30, 2022. Criteria: The Project should have a security deposit cash balance in excess of the security deposit liability balance. Effect: The security deposit account was underfunded by $296. Context: The security deposit account was tested at June 30, 2022. No sample was tested. Questioned costs NONE Cause: Management failed to recognize that the security deposit liability account was underfunded at June 30, 2022. Recommendation: The Project should carefully review the statement of financial position to make sure the security deposit liability account is funded. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will be reminded to review the tenant security deposit cash balance versus the security deposit liability balance on a monthly basis. Questioned Costs - Department of Housing and Urban Development $- Non-compliance code - M