Finding 966356 (2023-001)

Section III – Federal Award Findings and Questioned Costs (continued) Finding No. 2023-001 – Timely Deposit of Surplus Cash Federal Assistance Listing Number Name of Federal Program or Cluster 14.181 Supportive Housing for Persons with Disabilities Information on the Universe Population Size One (1) surplus cash deposit Sample Size Information One (1) surplus cash deposit Identification of Repeat Finding Reference Number None noted Criteria The regulatory agreement required surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end. Statement of Condition The fiscal year2022 required surplus cash deposit of $17,660 was not made within 90 days of the fiscal year end. Cause The cause of the late payment was due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code B- Failure to make required residual receipts account Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance of management oversight. Reporting Views of Responsible officials Auditee made a deposit into the residual receipts account to fully fund the account based on FY2022 surplus cash, and will establish a system to ensure the surplus cash is deposited within 90 days of the fiscal year end going forward. Repeat finding No Recommendations Auditor recommends that management ensure the surplus cash deposit is done timely in the future. Auditors’ Summary of the Auditees’ Comments on the Findings and Recommendations Management agrees with the finding and had made the required deposit in October 2022.