Finding Text
Housing Choice Voucher-CDFA#14.871, Low Rent-CDFA#14.850, and Capital Fund-CDFA#14.872 2022-005-Late Filing of the Audit Report-Reporting Criteria and Specific Requirement The independent auditor?s report is to be filed with the Legislative Auditor no later than six months after fiscal year end. The report is to be filed with HUD-REAC no later than nine months after year end. Management and the Board should review monthly financial statements on a timely basis. Condition Found The audit report was not filed by the state filing due date of March 31. Cause The auditor initially contracted to do the audits for the years ended September 2020 and September 2021 was unable to perform the audits. The current auditor executed an engagement letter-contract on August 25, 2022. The 2020 audit was finished in late 2021, and the 2021 audit was completed in January 2023. Effect State and federal regulations were not complied with. In addition, Management was not able to timely implement any recommendations included in this report. Recommendation State and federal filing due dates should be timely met. Origination Date The finding originated for the year ended September 30, 2019. View of Responsible Official We will comply with the auditor?s recommendation.