Institutional Federal Compliance Report 2021

STATE OF NEW YORK

Schedule of Findings and Questioned Costs

Year ended March 31, 2018

Possible Asserted Effect Failure to report program income prevents the United States Department of Housing and Urban Development from effectively monitoring the Corporation’s administration of Federal funds. Additionally, a lack of a process to quantify and track program income may result in costs inconsistent with the program objectives being claimed to Federal programs. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Repeat Finding A similar finding was included in the prior year Single Audit Report as finding number 2017-023 on page 63. Questioned Costs Cannot be determined. Recommendation We recommend that the Corporation implement policies and procedures to ensure financial records detailing the receipt and expenditure of program income received by subrecipients are maintained and treated as additional CDBG funds and are used for eligible activities before additional cash withdrawals are made from the U.S. Treasury. Views of Responsible Officials Recommendation accepted. New policies and procedures have been implemented. Refer to corrective action plan for more details.

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