FAC Explorer

Finding 88035 (2022-002)

-
Requirement
B
Questioned Costs
$1
Year
2022
Accepted
2022-10-20
Audit: 78098
Organization: Nutfield Heights, INC (NH)
Auditor: D'ambra CPA

AI Summary

  • Issue: A property incorrectly paid $1,791 for another property's invoice.
  • Requirement: Only eligible costs for the property should be covered by its own funds.
  • Follow-up: Management has reimbursed the property for the erroneous payment.

Finding Text

Finding 2022-002: Federal program - Section 223(f) Insured Mortgage: Criteria - only eligible costs of the property should be paid by the property; Condition - the property paid another property?s invoice totaling $1,791; Cause - management oversight; Recommendation - management should reimburse the property for the payment made in error. Response: Management has reimbursed the property for the payment made in error.

Corrective Action Plan

Nutfield Heights Inc. Project No. 024-44801-NP-SUP Year Ended April 30, 2022 Findings and Questioned Cost: Finding 2022-001: Mortgage did not increase the required monthly replacement reserve deposit. Corrective Action: William Roberson, Accountant of management company, will submit a check to mortgage company for replacement reserve shortfall Finding 2022-002: Property paid another property?s invoice totaling $1,791.00 Corrective Action: William Roberson, Accountant of management company, has reimbursed the property for the payment made in error. Finding 2022-003: The security deposit account is deficient by $1,730.00. Corrective Action: William Roberson will transfer sufficient amount from the operating account to the security deposit account

Categories

Questioned Costs Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.195 Section 8 Housing Assistance Payments Program $675,720
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $516,111