Core Issue: Inadequate documentation for cash receipts from the prior management agent.
Impacted Requirements: HUD regulations require proper maintenance of books and records.
Recommended Follow-Up: Current management should continue efforts to obtain necessary documentation to ensure complete property records.
Finding Text
Federal program - Section 202: Criteria: HUD regulations specify that management maintain adequate books and records; Condition: I was unable to test the prior management agent?s cash receipts recorded; Cause: supporting documentation for the cash receipts were not made available for testing; Effect: the property records may be incomplete; Recommendation: the current management agent should obtain the necessary documentation to support the cash receipts recorded by the prior management agent. Response: The current management agent has attempted to request the supporting documentation but has been unsuccessful.
Categories
HUD Housing ProgramsEquipment & Real Property Management