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2018-PH-1006-001-B
Status
Cerrado
Date Issued
Septiembre 21, 2018
Closed Date
Junio 25, 2020
Provide documentation to show that project funds are segregated in the project’s name, in accordance with the regulatory agreement and HUD requirements.
OIG Component Office
Audit
Program Office
Housing
Questioned Costs
$0.00
Better Funds Use
$0.00
Prioridad
No
Sensitive
No

Related Recommendations

Key Details
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  Open
  Closed
Funds Put to Better Use
Funds Put to Better Use

Recommendations that funds be put to better use estimate funds that could be used more efficiently. For example, recommendations that funds be put to better use could result in reductions in spending, deobligation of funds, or avoidance of unnecessary spending.

Questioned Costs
Questioned Costs

Recommendations with questioned costs identify costs: (A] resulting from an alleged violation of a law, regulation, contract, grant, or other document or agreement governing the use of Federal funds; (B] that are not supported by adequate documentation (also known as an unsupported cost]; or (C] that appear unnecessary or unreasonable.

Sensitive
Sensitive

Sensitive information refers to information that could have a damaging import if released to the public and, therefore, must be restricted from public disclosure.

Priority
Priority

We believe these open recommendations, if implemented, will have the greatest impact on helping HUD achieve its mission to create strong, sustainable, inclusive communities and quality affordable homes for all.

Housing

  • 2018-PH-1006-001-A
    $2,136,849.00

    Closed on Agosto 22, 2023

    Summary

    Provide documentation to show that disbursements totaling $2,136,849 and any bank transfers to the owner’s non-project accounts that occurred outside of our audit period were reasonable and necessary expenses for the operation of the project or repay the project from non-project funds for any amount that it cannot support.

  • 2018-PH-1006-001-C
    $100,000.00

    Closed on Julio 15, 2020

    Summary

    Take immediate action to remove project bank accounts as security for the owner’s line of credit and, thereby put up to $100,000 to better use.

  • Closed on Julio 15, 2020

    Summary

    Submit a project owner’s or management agent’s certification, management entity profile, current budget and other required documentation to HUD for review and approval.

  • Closed on Julio 15, 2020

    Summary

    Develop and implement controls to ensure that the project complies with the regulatory agreement and applicable HUD requirements, including but not limited to policies and procedures for maintaining project funds in separate bank accounts in the project’s name, using project funds only for necessary expenses of the project, and reconciling bank accounts to the project’s computerized accounting records.

  • Closed on Julio 15, 2020

    Summary

    Provide training and technical assistance to the owner’s executive director and staff to ensure compliance with the terms of its regulatory agreement and applicable HUD requirements.