FAC Explorer

Audit 14942

FY End
2023-06-30
Total Expended
$4.31M
Findings
4
Programs
3
Organization: Salina Voa Elderly Housing, Inc. (market Place Saline Apartments) (LA)
Year: 2023 Accepted: 2024-01-31
Auditor: Maddox & Associates Apc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
11159 2023-001 - - C
11160 2023-002 - - B
587601 2023-001 - - C
587602 2023-002 - - B

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.86M Yes 2
14.195 Section 8 Housing Assistance Payments Program $394,238 Yes 0
14.191 Multifamily Housing Service Coordinators $54,185 - 0

Contacts

Name Title Type
F8MLX5NMUL65 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
The project did not offset the monthly Section 8 Housing Assistance Payments. The Project remitted the excess Residual Receipts out of operations.
Finding 2023-002
Surplus cash was not deposited into the Residual Receipts account within 90 days.
Finding 2023-001
The project did not offset the monthly Section 8 Housing Assistance Payments. The Project remitted the excess Residual Receipts out of operations.
Finding 2023-002
Surplus cash was not deposited into the Residual Receipts account within 90 days.