FAC Explorer

Audit 12268

FY End
2023-06-30
Total Expended
$1.57M
Findings
2
Programs
1
Organization: Wood County Village Ii, Inc. (OH)
Year: 2023 Accepted: 2024-01-18
Auditor: Gbq Partners LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
8969 2023-001 Significant Deficiency - N
585411 2023-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $1.52M Yes 0

Contacts

Name Title Type
NKJLBKADCZA5 Christine Gladieux Auditee
4192974149 Lyndi Sheets Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) reports the Wood County Village II, Inc.’s (the Project’s) federal award programs’ disbursements. 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). The schedule has been prepared on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2023-001
Finding 2023-001 U.S. Department of Housing and Urban Development Supportive Housing for Persons with Disabilities (Section 811) – Assistance Listing 14.181; Grant period – Year ended June 30, 2023 Material Noncompliance with Program Requirements Significant Deficiency Over Compliance: Special Tests and Provisions Statement of Condition: Security deposit listing was not updated with the current tenants’ information, including tenants who had moved out, moved in, or changes in the security deposit requirements. Criteria: The HUD Handbook 4350.3 Occupancy Requirements of Subsidized Multifamily Housing Programs requires the owner to utilize and refer to its security deposit records. Cause of Condition: The Project’s sponsor and management company experienced turnover in their accounting department which caused a shift in assigned duties and responsibilities. During that shift in assigned duties there was a lapse in assigned responsibility for the reconciliation of security deposits. Effect of Condition: This condition resulted in the improper maintenance of security deposit records of the Project, resulting in possible unidentified noncompliance with HUD regulatory provisions. Identification of Repeat Finding: None Recommendation: We recommend that the Project strengthen its internal control review function over security deposits to ensure the security deposit listing is properly maintained. Management’s Response: The Project’s sponsor is aware of the requirement to maintain security deposit records. In August 2023, the management company reconciled the account and has put in place measures to ensure that tenant security deposit account is maintained moving forward.
Finding 2023-001
Finding 2023-001 U.S. Department of Housing and Urban Development Supportive Housing for Persons with Disabilities (Section 811) – Assistance Listing 14.181; Grant period – Year ended June 30, 2023 Material Noncompliance with Program Requirements Significant Deficiency Over Compliance: Special Tests and Provisions Statement of Condition: Security deposit listing was not updated with the current tenants’ information, including tenants who had moved out, moved in, or changes in the security deposit requirements. Criteria: The HUD Handbook 4350.3 Occupancy Requirements of Subsidized Multifamily Housing Programs requires the owner to utilize and refer to its security deposit records. Cause of Condition: The Project’s sponsor and management company experienced turnover in their accounting department which caused a shift in assigned duties and responsibilities. During that shift in assigned duties there was a lapse in assigned responsibility for the reconciliation of security deposits. Effect of Condition: This condition resulted in the improper maintenance of security deposit records of the Project, resulting in possible unidentified noncompliance with HUD regulatory provisions. Identification of Repeat Finding: None Recommendation: We recommend that the Project strengthen its internal control review function over security deposits to ensure the security deposit listing is properly maintained. Management’s Response: The Project’s sponsor is aware of the requirement to maintain security deposit records. In August 2023, the management company reconciled the account and has put in place measures to ensure that tenant security deposit account is maintained moving forward.