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Management Fee Programs:
Great Oak Direct $5,300.55 7/12/2006
Phoenix Village | $1,989.61 8/25/2006
Phoenix Village | $1,025.36 8/31/2006
Total funds repaid within our normal practice: $132,491.48
The total payments outside the time frame of our normal practice were as follows:
Great Oak Direct $2,544.44 11/9/2006
Phoenix Village | $496.92 10/9/2006
Phoenix Village | $958.19 11/16/2006
Great Oak Mgmt. Fee $109,752.99 11/22/2006
Total repaid outside our normal practice: $113,752.54
Total repaid by 11/22/2006: $246,254.02
Per the draft audit report discussed at the OIG exit conference on February 1, 2007, we
issued a revolving fund check #110732, dated 2/2/07 (copy attached) payable to the
public housing general fund and deposited those funds into the public housing general
fund (bank validated copy of deposit slip dated 2/2/07 attached).
This completes the corrective action for Recommendation 1A.
The Authority's Board of Commissioners at the November 21, 2006 meeting passed a
resolution that the Executive Director establish and implement policies and procedures
to ensure that the due to/due from accounts in the revolving fund are reconciled monthly
and settled monthly or as soon as funds are available.
The Executive Director will establish and implement the policies and procedures
necessary to adhere to the Board of Commissioners resolution within 90 days from this
response. Once these policies and procedures have been established and
implemented, Recommendation 1B will be resolved.
The Executive Director will establish and implement the procedures necessary to
accurately and completely record the year-end audit adjusting entries for the fiscal year
consultation with our auditor, These procedures will be in place within 90 days from this
response. Once procedures are established and the entries completed,
Recommendation IC will be resolved.
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