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2018-PH-1006-001-D
Status
Closed
Date Issued
September 21, 2018
Closed Date
July 15, 2020
OIG Component Office
Audit
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.
Program Office
Housing
Questioned Costs
$0.00
Better Funds Use
$0.00
Publication Report Number
2018-PH-1006

Related Recommendations

Recomendation Status Date Issued Summary
2018-PH-1006-001-A Closed September 21, 2018 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-B Closed September 21, 2018 Provide documentation to show that project funds are segregated in the project’s name, in accordance with the regulatory agreement and HUD requirements.
2018-PH-1006-001-C Closed September 21, 2018 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.
2018-PH-1006-001-E Closed September 21, 2018 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.
2018-PH-1006-001-F Closed September 21, 2018 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.