FAC Explorer

Audit 14589

FY End
2023-06-30
Total Expended
$2.90M
Findings
2
Programs
1
Organization: Montrose Voa Elderly Housing, INC (centennial Tower) (VA)
Year: 2023 Accepted: 2024-01-30
Auditor: Maddox & Associates Apc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
10866 2023-001 - - B
587308 2023-001 - - B

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $2.90M Yes 1

Contacts

Name Title Type
JB5AM4APWFV5 Vanessa Tran Auditee
7033415000 Jeff Maddox Auditor
No contacts on file

Notes to SEFA

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. The Project 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 Project has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2023-001
HUD Memorandum dated October 14, 2016, “Continuing Remission of Excess PRAC Residual Receipts”, continues the requirement that “Any balance greater than $250 per unit in a Residual Receipts account must be remitted to HUD’s Accounting Center upon “termination” of the PRAC”.
Finding 2023-001
HUD Memorandum dated October 14, 2016, “Continuing Remission of Excess PRAC Residual Receipts”, continues the requirement that “Any balance greater than $250 per unit in a Residual Receipts account must be remitted to HUD’s Accounting Center upon “termination” of the PRAC”.