Finding Text
2022-002 ? Reporting Noncompliance Federal Program Housing Assistance Payment Program Section 8, Assistance Listing No. 14.871 Criteria Per Section 4 L (1) Financial Reporting of the OMB Uniform Guidance Compliance Supplement, the public housing agency (PHA) must submit timely GAAP-based unaudited and audited financial information electronically to HUD. Condition During the audit, we noted the unaudited financial information submitted to HUD for the year ended June 30, 2022, contained a misstatement due to error. Cause The City erroneously overstated revenues and understated expenses for the program when preparing the reports. Effect The City could have been providing inaccurate information regarding its financial performance to the granting agency. Questioned Costs No questioned costs. Identification as a Repeat Finding This is a new finding for fiscal year 2022. Recommendation We recommend the City carefully review all information submitted to HUD to ensure accuracy of the information filed, as well as maintain backup of information used to compile the reports. Views of Responsible Officials See attached Corrective Action Plan.