FAC Explorer

Audit 1051

FY End
2023-06-30
Total Expended
$1.18M
Findings
2
Programs
1
Organization: Cascade Court Housing Association (WA)
Year: 2023 Accepted: 2023-10-23
Auditor: Rf Company Cpa's P S

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
529 2023-001 Significant Deficiency - N
576971 2023-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $1.18M Yes 1

Contacts

Name Title Type
SN6ADP4JUHH1 Richard Stride Auditee
3603309044 April Ann Flyte, CPA Auditor
No contacts on file

Notes to SEFA

Title: NOTE E. SECTION 811 CAPITAL ADVANCE Accounting Policies: NOTE A. BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Cascade Court Housing Organization under programs of the federal government for the year ended June 30, 2023. 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 Cascade Court Housing Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cascade Court Housing Organization. NOTE B. SUMMARY OF SIGNIFICANT 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: NOTE C. INDIRECT COST RATE: Cascade Court Housing Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Under the HUD Section 811 Capital Advance Mortgage Note (the Note), Cascade Court Housing Organization received advances for the construction of the Project. The Note bears no interest and is not required to be repaid as long as the housing remains available to eligible households through 2047. At June 30, 2023, $1,129,896 is outstanding.
Title: NOTE D. PASSED-THROUGH SUBRECIPIENTS: Accounting Policies: NOTE A. BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Cascade Court Housing Organization under programs of the federal government for the year ended June 30, 2023. 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 Cascade Court Housing Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cascade Court Housing Organization. NOTE B. SUMMARY OF SIGNIFICANT 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: NOTE C. INDIRECT COST RATE: Cascade Court Housing Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended June 30, 2023, there were no awards passed through to subrecipients.

Finding Details

Finding 2023-001
S3800-010 Finding Reference Number 2023-001 S3800-011 Title and Assistance Listing Number of Federal Program U.S. Department of Housing and Urban Development Supportive Housing for Persons with Disabilities (Section 811 Capital Advance and Rental Assistance), 14.181 S3800-015 Type of Finding Financial Statement Finding S3800-016 Finding Resolution Status In Process S3800-017 Information on Universe Population Size N/A S3800-018 Sample size Information N/A S3800-019 Identification of Repeat Finding and Reference Number No S3800-020 Criteria Organization must comply with HUD guidelines regarding Residual Receipts withdrawals. S3800-030 Statement of Condition Withdrawal of $2,500 was made from Residual Receipts account without HUD approval. S3800-032 Cause Employee oversight. S3800-033 Effect or Potential Effect Organization was not in compliance with HUD guidelines for residual receipts withdrawals. S3800-035 Auditor Non-Compliance Code C – Unauthorized withdrawals from residual receipts account S3800-040 Questioned Costs $2,500 S3800-045 Reporting Views of Responsible Officials Management agrees with the finding and is in the process of replacing withdrawn funds. S3800-037 FHA/Contract Number 127HD034 S3800-038 Questioned Costs $2,500 S3800-080 Recommendation Management should have procedures in place to ensure only HUD authorized withdrawals are made from the residual receipts account. S3800-090 Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations Manager is in the process of correcting the deficiency. S3800-130 Response Indicator Agree S3800-140 Completion Date 09/30/2023 S3800-150 Response Management agrees with the finding and is in the process of replenishing the funds. S3800-160 Contact Person First Name Thomas S3800-170 Contact Person Middle Initial E. S3800-180 Contact Person Last Name Anderson
Finding 2023-001
S3800-010 Finding Reference Number 2023-001 S3800-011 Title and Assistance Listing Number of Federal Program U.S. Department of Housing and Urban Development Supportive Housing for Persons with Disabilities (Section 811 Capital Advance and Rental Assistance), 14.181 S3800-015 Type of Finding Financial Statement Finding S3800-016 Finding Resolution Status In Process S3800-017 Information on Universe Population Size N/A S3800-018 Sample size Information N/A S3800-019 Identification of Repeat Finding and Reference Number No S3800-020 Criteria Organization must comply with HUD guidelines regarding Residual Receipts withdrawals. S3800-030 Statement of Condition Withdrawal of $2,500 was made from Residual Receipts account without HUD approval. S3800-032 Cause Employee oversight. S3800-033 Effect or Potential Effect Organization was not in compliance with HUD guidelines for residual receipts withdrawals. S3800-035 Auditor Non-Compliance Code C – Unauthorized withdrawals from residual receipts account S3800-040 Questioned Costs $2,500 S3800-045 Reporting Views of Responsible Officials Management agrees with the finding and is in the process of replacing withdrawn funds. S3800-037 FHA/Contract Number 127HD034 S3800-038 Questioned Costs $2,500 S3800-080 Recommendation Management should have procedures in place to ensure only HUD authorized withdrawals are made from the residual receipts account. S3800-090 Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations Manager is in the process of correcting the deficiency. S3800-130 Response Indicator Agree S3800-140 Completion Date 09/30/2023 S3800-150 Response Management agrees with the finding and is in the process of replenishing the funds. S3800-160 Contact Person First Name Thomas S3800-170 Contact Person Middle Initial E. S3800-180 Contact Person Last Name Anderson