Finding Text
CFDA Number:14.157 - Section 202 Cap Adv
Grantor: HUD
Questioned Costs: $0
Description of Condition:
Cause of the Condition:
Effect of the Condition:
Recommendations:
When preparing reserve requests management should match invoices to the
request and make sure invoices not already paid are timely paid after the
withdrawal is made.
Withdrawals from the replacement reserve account require that the funds be
expended within a timely manner after removal from the reserve account. Funds
totaling $2,130.00 from the approval totaling $9,506.91, approved May 18, 2022,
and withdrawn May 23, 2022, were not expended for any purpose.
Care was not taken when preparing the reserve request to determine amounts
actually due and payable or to timely pay bills incurred at the time of the
withdrawal.
Funds withdrawn from the replacement reserve may have been used for other
purposes.