FAC Explorer

Audit 21282

FY End
2022-06-30
Total Expended
$1.89M
Findings
4
Programs
2
Organization: 13west 103rd Street CORP (NY)
Year: 2022 Accepted: 2023-01-10
Auditor: Pkf O'Connor Davies LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
16624 2022-001 - - N
16625 2022-001 - - N
593066 2022-001 - - N
593067 2022-001 - - N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities - Capital Advance Program $1.55M Yes 1
14.181 Supportive Housing for Persons with Disabilities- Project Rental Assistance Contract $344,435 Yes 1

Contacts

Name Title Type
GRHUKTVRHK64 Ezra Miller Auditee
2126633000 Stewart Grubman Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The schedule includes the federal award activity of 13 West 103rd Street Corporation (the Entity) under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of The Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Entity has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Entity is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES - CAPITAL ADVANCE PROGRAM (14.181) - Balances outstanding at the end of the audit period were $1,547,500.
Title: FEDERAL LOAN PROGRAMS Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The schedule includes the federal award activity of 13 West 103rd Street Corporation (the Entity) under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of The Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Entity has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Entity is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development. The Entity received a U.S. Department of Housing and Urban Development Capital Advanceunder Section 811 of the National Affordable Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Entity received no additional loans during the year.

Finding Details

Finding 2022-001
Finding No. 2022-001 ? Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.181 Name of Federal Program or Cluster Supportive Housing for Persons with Disabilities Information on the Universe Population Size One (1) surplus cash deposit. Sample Size Information One (1) surplus cash deposit. Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end. Statement of Condition The 2021 required surplus cash deposit of $33,372 was not made. Cause The deposit was not made due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code B ? Failure to make required residual receipts deposits Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight due to change in management personnel positions. Repeat Finding No Recommendations We recommend that management ensures the surplus cash deposit is done timely in the future. Views of Responsible Officials See corrective action plan.
Finding 2022-001
Finding No. 2022-001 ? Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.181 Name of Federal Program or Cluster Supportive Housing for Persons with Disabilities Information on the Universe Population Size One (1) surplus cash deposit. Sample Size Information One (1) surplus cash deposit. Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end. Statement of Condition The 2021 required surplus cash deposit of $33,372 was not made. Cause The deposit was not made due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code B ? Failure to make required residual receipts deposits Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight due to change in management personnel positions. Repeat Finding No Recommendations We recommend that management ensures the surplus cash deposit is done timely in the future. Views of Responsible Officials See corrective action plan.
Finding 2022-001
Finding No. 2022-001 ? Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.181 Name of Federal Program or Cluster Supportive Housing for Persons with Disabilities Information on the Universe Population Size One (1) surplus cash deposit. Sample Size Information One (1) surplus cash deposit. Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end. Statement of Condition The 2021 required surplus cash deposit of $33,372 was not made. Cause The deposit was not made due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code B ? Failure to make required residual receipts deposits Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight due to change in management personnel positions. Repeat Finding No Recommendations We recommend that management ensures the surplus cash deposit is done timely in the future. Views of Responsible Officials See corrective action plan.
Finding 2022-001
Finding No. 2022-001 ? Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.181 Name of Federal Program or Cluster Supportive Housing for Persons with Disabilities Information on the Universe Population Size One (1) surplus cash deposit. Sample Size Information One (1) surplus cash deposit. Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end. Statement of Condition The 2021 required surplus cash deposit of $33,372 was not made. Cause The deposit was not made due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code B ? Failure to make required residual receipts deposits Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight due to change in management personnel positions. Repeat Finding No Recommendations We recommend that management ensures the surplus cash deposit is done timely in the future. Views of Responsible Officials See corrective action plan.