FAC Explorer

Audit 18342

FY End
2022-12-31
Total Expended
$1.97M
Findings
2
Programs
3
Organization: Wausau Community Development Authority (WI)
Year: 2022 Accepted: 2023-07-04
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
23647 2022-001 Significant Deficiency - L
600089 2022-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
14.871 Section 8 Housing Choice Vouchers $1.71M Yes 1
14.850 Public and Indian Housing $208,400 - 0
14.872 Public Housing Capital Fund $46,281 - 0

Contacts

Name Title Type
FFCSJ69YNYJ1 Betty Noel Auditee
7152616687 Jon Trautman, CPA Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards for the Community Development Authority of the City of Wausau, Wisconsin, (the CDA) 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 of expenditures of federal awards includes all federal awards of the CDA. Because the schedule presents only a selected portion of the operations of the CDA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CDA.
Title: SUBRECIPIENT PAYMENTS Accounting Policies: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. No federal awards were passed through to subrecipients during the year ended December 31, 2022.

Finding Details

Finding 2022-001
2022-001 Unaudited REAC Reporting Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Title: Section 8 Housing Choice Voucher Cluster Assistance Listing Number: 14.871 Award Period: January 1, 2022, through December 31, 2022 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matter Compliance Requirements: Reporting Criteria or specific requirement: The Uniform Financial Reporting Standards (24 CFR section 5.801) require PHAs to submit timely GAAP-based unaudited financial statements electronically to HUD. The unaudited submission was due February 28, 2023. Condition: During our review of the unaudited submission, we noted the submission was not completed until April 18, 2023. Questioned costs: none noted Context: During our review of the unaudited REAC submission, we noted the report was not submitted on time. No extensions were granted by HUD. Cause: The Organization relied on their outside accountant to submit the unaudited submission to HUD and did not follow-up to confirm it had been submitted by the due date. Effect: The unaudited submission was filed late to HUD. The CDA will lose rating points from HUD due to the late filing. Repeat Finding: No Recommendation: We recommend that Management create an internal control monitoring system to ensure future reports are filed prior to their due date. Views of responsible officials: We agree with the finding of 2022-001 ? Unaudited REAC Reporting.
Finding 2022-001
2022-001 Unaudited REAC Reporting Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Title: Section 8 Housing Choice Voucher Cluster Assistance Listing Number: 14.871 Award Period: January 1, 2022, through December 31, 2022 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matter Compliance Requirements: Reporting Criteria or specific requirement: The Uniform Financial Reporting Standards (24 CFR section 5.801) require PHAs to submit timely GAAP-based unaudited financial statements electronically to HUD. The unaudited submission was due February 28, 2023. Condition: During our review of the unaudited submission, we noted the submission was not completed until April 18, 2023. Questioned costs: none noted Context: During our review of the unaudited REAC submission, we noted the report was not submitted on time. No extensions were granted by HUD. Cause: The Organization relied on their outside accountant to submit the unaudited submission to HUD and did not follow-up to confirm it had been submitted by the due date. Effect: The unaudited submission was filed late to HUD. The CDA will lose rating points from HUD due to the late filing. Repeat Finding: No Recommendation: We recommend that Management create an internal control monitoring system to ensure future reports are filed prior to their due date. Views of responsible officials: We agree with the finding of 2022-001 ? Unaudited REAC Reporting.