FAC Explorer

Audit 18689

FY End
2022-12-31
Total Expended
$2.66M
Findings
2
Programs
1
Organization: Gethsemane Manor Housing Development Fund Co., Inc. (NY)
Year: 2022 Accepted: 2023-04-23
Auditor: Dermody Burke & Brown CPAS LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
21584 2022-001 - - P
598026 2022-001 - - P

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $2.47M Yes 1

Contacts

Name Title Type
ZSRXVQN2EPZ6 Dawn Olmstead Auditee
3153371401 Lori Ciarla Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Gethsemane Manor Housing Development Fund Company, Inc. (Gethsemane ManorApartments), HUD Project No. 014-EH257 and is presented on the accrual basis of accounting. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Gethsemane Manor Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Gethsemane Manor Apartments. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLYS (14.157) - Balances outstanding at the end of the audit period were 2472600.
Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Gethsemane Manor Housing Development Fund Company, Inc. (Gethsemane ManorApartments), HUD Project No. 014-EH257 and is presented on the accrual basis of accounting. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Gethsemane Manor Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Gethsemane Manor Apartments. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Gethsemane Manor Apartments did not pass any federal funds to subrecipients for the year ended December 31, 2022.

Finding Details

Finding 2022-001
a. Statement of Condition: The audited financial statements, reports and supplemental information for the year ended December 31, 2021 were not submitted to the REAC within 90 days of the Corporation?s fiscal year end, and was not submitted to the Federal Audit Clearinghouse within nine months of the fiscal year end. b. Criteria: Audits of financial statements of HUD projects are required to be submitted to the REAC 90 days after the end of the fiscal year and audits of financial statements and supplemental information performed under Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (?Uniform Guidance?) are required to be submitted to the Federal Audit Clearinghouse 30 days after receipt of the auditors? report, or nine months after the end of the fiscal year, whichever comes first. c. Effect of Condition: The project is not in compliance with the requirements of HUD and Uniform Guidance. d. Cause of Condition: The audit of the financial statements was not completed in the specified time period. e. Recommendation: Gethsemane Manor Apartments should implement controls to ensure necessary information is available for timely completion of the audit and submission of the audited financial statements to the REAC and the Federal Audit Clearinghouse within the required timeframe. f. Views of Responsible Officials and Planned Corrective Actions: Management of the Gethsemane Manor Apartments agrees with the finding and the auditor?s recommendations have been adopted.
Finding 2022-001
a. Statement of Condition: The audited financial statements, reports and supplemental information for the year ended December 31, 2021 were not submitted to the REAC within 90 days of the Corporation?s fiscal year end, and was not submitted to the Federal Audit Clearinghouse within nine months of the fiscal year end. b. Criteria: Audits of financial statements of HUD projects are required to be submitted to the REAC 90 days after the end of the fiscal year and audits of financial statements and supplemental information performed under Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (?Uniform Guidance?) are required to be submitted to the Federal Audit Clearinghouse 30 days after receipt of the auditors? report, or nine months after the end of the fiscal year, whichever comes first. c. Effect of Condition: The project is not in compliance with the requirements of HUD and Uniform Guidance. d. Cause of Condition: The audit of the financial statements was not completed in the specified time period. e. Recommendation: Gethsemane Manor Apartments should implement controls to ensure necessary information is available for timely completion of the audit and submission of the audited financial statements to the REAC and the Federal Audit Clearinghouse within the required timeframe. f. Views of Responsible Officials and Planned Corrective Actions: Management of the Gethsemane Manor Apartments agrees with the finding and the auditor?s recommendations have been adopted.