FAC Explorer

Audit 1340

FY End
2023-06-30
Total Expended
$8.62M
Findings
2
Programs
1
Organization: Arkansas Methodist Medical Center Retirement Community, Inc. (AR)
Year: 2023 Accepted: 2023-10-25
Auditor: Horne

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
704 2023-001 Significant Deficiency - P
577146 2023-001 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
14.129 Mortgage Insurance_nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities $8.62M Yes 1

Contacts

Name Title Type
SWRUJ7WMN4N9 Staci Williams Auditee
8702397855 Kade Moody Auditor
No contacts on file

Notes to SEFA

Title: Note 4. Federal Loan Program Accounting Policies: Note 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal loan activity of Arkansas Methodist Medical Center Retirement Community, Inc. d/b/a Chateau on the Ridge, FHA Project Number 082-43058 (the "Chateau") 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 ("CFR") 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 Chateau, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Chateau. Note 2. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The Chateau has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The federal loan program listed subsequently is administered directly by the Chateau, and balances and transactions relating to this program are included in the Chateau's basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The loan balance outstanding at June 30, 2023, consists of: Assisted Listing Number Program Name Outstanding Balance June 30, 2023 14.129 Mortgage Insurance Nursing Homes, Intermediate Care Facilities, Board and Care Homes, and Assisted Living Facilities (Section 232) $ 8,445,342

Finding Details

Finding 2023-001
Finding No. 2023-001, CFDA 14.129 Equal Housing Opportunity Requirements Criteria: HUD requires that the HUD-approved equal housing opportunity logo, slogan or statement be displayed on all marketing materials released to the public. Condition: The Company produced one radio marketing advertisement during the year ended June 30, 2023 which did not include the equal housing opportunity logo, slogan or statement as required. Cause: Oversight controls, when marketing materials were originally produced by the Company, were not operating properly to ensure compliance with HUD standards. Effect: Failure to include the equal housing opportunity logo, slogan or statement may be perceived as an indication of discriminatory housing practices. Question costs: None. Identification as a repeat finding: Not applicable. Auditor’s Recommendation: We recommend that all current marketing materials without the equal housing opportunity slogan be corrected, and any future materials produced include the equal housing opportunity slogan. Auditee’s Response: Refer to Management's Corrective Action Plan included within this reporting package.
Finding 2023-001
Finding No. 2023-001, CFDA 14.129 Equal Housing Opportunity Requirements Criteria: HUD requires that the HUD-approved equal housing opportunity logo, slogan or statement be displayed on all marketing materials released to the public. Condition: The Company produced one radio marketing advertisement during the year ended June 30, 2023 which did not include the equal housing opportunity logo, slogan or statement as required. Cause: Oversight controls, when marketing materials were originally produced by the Company, were not operating properly to ensure compliance with HUD standards. Effect: Failure to include the equal housing opportunity logo, slogan or statement may be perceived as an indication of discriminatory housing practices. Question costs: None. Identification as a repeat finding: Not applicable. Auditor’s Recommendation: We recommend that all current marketing materials without the equal housing opportunity slogan be corrected, and any future materials produced include the equal housing opportunity slogan. Auditee’s Response: Refer to Management's Corrective Action Plan included within this reporting package.