FAC Explorer

Audit 141

FY End
2023-04-30
Total Expended
$1.26M
Findings
6
Programs
2
Organization: Foxhill Manor Cooperative, Inc. (IN)
Year: 2023 Accepted: 2023-10-19
Auditor: Comer Nowling and Associates PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
116 2023-001 - Yes P
117 2023-002 - - P
118 2023-003 - - P
576558 2023-001 - Yes P
576559 2023-002 - - P
576560 2023-003 - - P

Programs

ALN Program Spent Major Findings
14.195 Section 8 Housing Assistance Payments Program $147,756 - 0
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $11,236 - 0

Contacts

Name Title Type
T8M9BUA7NRG8 Basim Abdalla Auditee
3179211170 Gregory Nowling Auditor
No contacts on file

Notes to SEFA

Title: Summary of Significant Accounting Policies Accounting Policies: Reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: 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. Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited to reimbursement. Pass-through identifying numbers are presented where available.

Finding Details

Finding 2023-001
The Cooperative failed to make the required deposit within 90 days subsequent to the end of the fiscal year ended April 30, 2022 into the residual receipts account.
Finding 2023-002
Management fees expensed during the year ended April, 30, 2023 were in excess of 7.21% of residential income collected.
Finding 2023-003
Management refused to provide the auditors with documentation regarding tenant files, applicant rejections, and tenant move-outs.
Finding 2023-001
The Cooperative failed to make the required deposit within 90 days subsequent to the end of the fiscal year ended April 30, 2022 into the residual receipts account.
Finding 2023-002
Management fees expensed during the year ended April, 30, 2023 were in excess of 7.21% of residential income collected.
Finding 2023-003
Management refused to provide the auditors with documentation regarding tenant files, applicant rejections, and tenant move-outs.