FAC Explorer

Finding 962962 (2023-002)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-03-27
Audit: 298828
Organization: St. Giles Manor, Inc. (AL)
Auditor: Browder & Associates PC

AI Summary

  • Answer: Management made an unauthorized transfer of $115,265 from a property reserve to the operating account.
  • Trend: This action reflects a pattern of non-compliance with HUD approval processes.
  • List: Follow up by reviewing all recent transfers for compliance and ensure proper approval protocols are established.

Finding Text

Management transferred $115,265 from a property held reserve to the operating account without HUD approval. This was a duplicate withdrawal.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 386519 2023-001
    Significant Deficiency
  • 386520 2023-002
    Significant Deficiency
  • 386521 2023-003
    Significant Deficiency
  • 962961 2023-001
    Significant Deficiency
  • 962963 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.135 Mortgage Insurance_rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate $4.15M
14.195 Section 8 Housing Assistance Payments Program $1.37M