Finding 615006 (2022-001)

-
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-01-10

AI Summary

  • Core Issue: The required surplus cash deposit of $16,728 was not made within the 90-day deadline.
  • Impacted Requirements: Regulatory agreement mandates timely deposits into the residual receipts reserve.
  • Recommended Follow-Up: Management should implement measures to ensure timely deposits in the future.

Finding Text

Finding No. 2022-001 ? Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.181 Name of Federal Program or Cluster Supportive Housing for Persons with Disabilities Information on the Universe Population Size One (1) surplus cash deposit. Sample Size Information One (1) surplus cash deposit. Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end. Statement of Condition The 2021 required surplus cash deposit of $16,728 was not made. Cause The cause of why the deposit was not made is due to management oversight due to change in management personnel positions. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code B ? Failure to make required residual receipts deposits Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight due to change in management personnel positions. Repeat Finding No Recommendations We recommend that management ensures the surplus cash deposit is done timely in the future. Views of Responsible Officials See corrective action plan. We hereby certify that we have examined the accompanying financial statements and supplementary data, and to the best of our knowledge and belief, the same is complete and accurate.

Categories

Cash Management HUD Housing Programs Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities - Capital Advance Programs $1.80M
14.181 Supportive Housing for Persons with Disabilities - Project Rental Assistance Contract $368,031