Meeker Housing Authority, Meeker, CO, Improperly Used Project Operating Funds for Its 221(d)(3) Multifamily Housing Insurance Program

Recommendation Number: 2018-DE-1001-003-E
Status: Closed
Date Issued: Septiembre 06, 2018

Closed Date:

Junio 25, 2020

Maintain separate books of account and submit audited financial statements solely for the project.

Publication Report

2018-DE-1001 | Septiembre 06, 2018

The U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector General audited the Meeker Family and Elderly Housing project based on a referral from HUD’s Office of Multifamily Housing Programs in Denver, CO. The project is... más

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2018-DE-1001-001-A
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Summary

Put all project bank accounts in the name of the project.
2018-DE-1001-001-B
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Separate all owner bank accounts from the project’s bank accounts.
2018-DE-1001-001-C
Closed on Septiembre 21, 2020
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Develop and implement controls over the distinction between project funds and owner funds. These controls should include policies related to when the owner is allowed to take project funds owed to the owner.
2018-DE-1001-001-D
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Take HUD-approved training related to operating and maintaining a multifamily project.
2018-DE-1001-002-A
$142,805.00

Closed on Diciembre 16, 2021
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Repay the project’s operating account from nonproject funds for the $142,805 spent on ineligible expenses.
2018-DE-1001-002-B
$12,355.00

Closed on Agosto 17, 2020
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Provide support for the $12,355 in project funds spent to pay individuals who were not on the payroll and for services provided for project operations. For any portion of this amount that is not supported, the owner should repay the project operating account using nonproject funds.
2018-DE-1001-002-C
Closed on Mayo 15, 2020
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Obtain training on the eligible use of project funds.
2018-DE-1001-002-D
Closed on Junio 25, 2020
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Develop and implement detailed policies and procedures for procurement, travel, and the use of its credit cards. These controls should comply with HUD regulations regarding procurement and other disbursement documentation requirements.
2018-DE-1001-003-A
Closed on Marzo 01, 2023
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Submit any outstanding audited financial statements.
2018-DE-1001-003-B
Closed on Julio 22, 2020
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Review the audited financial statements and determine the amount of outstanding mortgage payments due.
2018-DE-1001-003-C
Closed on Junio 25, 2020
Summary

Work with the local multifamily office to make any outstanding mortgage payments or devise a plan to bring the property current through the use of available funds.
2018-DE-1001-003-D
Closed on Marzo 22, 2021
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Develop and implement policies and procedures to ensure that the certified public accountant submits audited financial statements by the required HUD deadline.
2018-DE-1001-004-A
$50,400.00

Closed on Agosto 14, 2020
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Reimburse the project’s operating account $50,400 from the reserve for replacement account.
2018-DE-1001-004-B
Closed on Mayo 15, 2020
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Receive training on the proper use of its reserve for replacement account.
2018-DE-1001-004-C
Closed on Agosto 12, 2020
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Develop and implement policies and procedures for the use of reserve for replacement funds, which ensure that the project does not use operating funds for any items that qualify for the use of reserve for replacement funds.