FAC Explorer

Audit 10073

FY End
2023-06-30
Total Expended
$2.05M
Findings
2
Programs
2
Organization: The Havens, Inc. (NC)
Year: 2023 Accepted: 2024-01-08
Auditor: Apple Koceja & Associates PA

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
7708 2023-001 Material Weakness Yes P
584150 2023-001 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $1.87M Yes 1
14.195 Section 8 Housing Assistance Payments Program $176,107 - 0

Contacts

Name Title Type
YHYDPADGFDT4 Mickie Helms Auditee
7046081436 Brett Koceja Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Havens, Inc. did not elect to use the de minimis cost rate. The accompanying schedule of expenditures of federal awards includes the federal award activity of The Havens, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of The Havens, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Havens, Inc.
Title: U.S. Department of Housing and Urban Development Loan Program- Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Havens, Inc. did not elect to use the de minimis cost rate. The Havens, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 811 of the National Housing Act. The Assistance Listing Number 14.181 (Supportive Housing for Persons with Disabilities) amount of $1,873,300 represents the outstanding loan balance at June 30, 2023, the end of the audit period.

Finding Details

Finding 2023-001
Supportive Housing for Persons with Disabilities (Section 811), Assistance Listing Number 14.181 Criteria: A good system of internal control contemplates an adequate segregation of duties so that no one individual handles a transaction from its inception to completion. Statement of Condition: The Organization has a lack of segregation of duties in certain areas due to a limited staff. Cause: There are a limited number of individuals involved in the internal control process. Effect: Inadequate segregation of duties could adversely affect the Organization’s ability to detect misstatements material to the financial statements in a timely manner by individuals in the normal course of performing their assigned functions. Recommendation: We recognize that it may not be cost effective for the Organization to hire additional staff. The Organization should continue to rely on compensating controls in place. Views of Responsible Officials: We agree with the finding. Due to cost restraints, the Organization will not hire any additional staff. The Organization will continue to rely on compensating controls in place.
Finding 2023-001
Supportive Housing for Persons with Disabilities (Section 811), Assistance Listing Number 14.181 Criteria: A good system of internal control contemplates an adequate segregation of duties so that no one individual handles a transaction from its inception to completion. Statement of Condition: The Organization has a lack of segregation of duties in certain areas due to a limited staff. Cause: There are a limited number of individuals involved in the internal control process. Effect: Inadequate segregation of duties could adversely affect the Organization’s ability to detect misstatements material to the financial statements in a timely manner by individuals in the normal course of performing their assigned functions. Recommendation: We recognize that it may not be cost effective for the Organization to hire additional staff. The Organization should continue to rely on compensating controls in place. Views of Responsible Officials: We agree with the finding. Due to cost restraints, the Organization will not hire any additional staff. The Organization will continue to rely on compensating controls in place.