FAC Explorer

Audit 20630

FY End
2022-06-30
Total Expended
$4.35M
Findings
0
Programs
3
Organization: Affordable Housing Management, Inc. (NC)
Year: 2022 Accepted: 2022-10-20
Auditor: Duncan Ashe PA

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
14.218 Community Development Block Grants/entitlement Grants $1.12M - 0
14.239 Home Investment Partnerships Program $365,877 Yes 0
99.U01 Federal Home Loan Bank Agreement Rental $154,320 - 0

Contacts

Name Title Type
CXJVZ3LDWBV4 David B Levy Auditee
3362730568 Barth Ashe Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of Affordable Housing Management, Inc. and Subsidiaries 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). Therefore, some of the amounts in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. HOME INVESTMENT PARTNERSHIPS PROGRAMS (14.239) - Balances outstanding at the end of the audit period were 696,500; 462,718; 468,611; 1,073,603; 365,877. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balance outstanding at the end of the audit period was 1,125,000. FEDERAL HOME LOAN BANK AGREEMENT RENTAL (99.U01) - Balance outstanding at the end of the audit period was 154,320.
Title: Loan/loan guarantee outstanding balances Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of Affordable Housing Management, Inc. and Subsidiaries 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). Therefore, some of the amounts in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. HOME INVESTMENT PARTNERSHIPS PROGRAMS (14.239) - Balances outstanding at the end of the audit period were 696,500; 462,718; 468,611; 1,073,603; 365,877. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balance outstanding at the end of the audit period was 1,125,000. FEDERAL HOME LOAN BANK AGREEMENT RENTAL (99.U01) - Balance outstanding at the end of the audit period was 154,320.