Audit 27302

FY End

2022-06-30

Total Expended

$4.08M

Findings

2

Programs

2

Organization: Tulsa Voa Senior Housing, Inc. (sequoyah Creek) (LA)

Year: 2022 Accepted: 2022-11-15

Auditor: Maddox & Associates Apc

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
30510	2022-001	-	-	LN
606952	2022-001	-	-	LN

ALN	Program	Spent	Major	Findings
14.157	Supportive Housing for the Elderly	$3.68M	Yes	1
14.275	Housing Trust Fund	$400,000	Yes	0

Contacts

Name	Title	Type
EK8NXMML99D5	Pamela Richardson	Auditee
9183073030	Bryan Beale	Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances 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 auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 3576715. HOUSING TRUST FUND (14.275) - Balances outstanding at the end of the audit period were 400000.

Finding Details

Finding 2022-001

Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement (as amended) requires monthly deposits of $1,117. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $1,117. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on July 8, 2022 in the amount of $1,117. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $1,117. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on July 8, 2022 in the amount of $1,117. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: July 8, 2022 Response: Management agrees with the finding. The replacement reserve deficiency was funded on July 8, 2022 in the amount of $1,117. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.

Finding 2022-001

Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The regulatory agreement (as amended) requires monthly deposits of $1,117. Statement of Condition: Required monthly deposits to the replacement reserve are deficient in the amount of $1,117. Cause: Procedures in place to ensure that deposits are made were not followed. Effect or Potential Effect: Replacement reserve is deficient. Auditor Non-Compliance Code: N Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The replacement reserve deficiency was funded on July 8, 2022 in the amount of $1,117. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Context: Required monthly deposits to the replacement reserve are deficient in the amount of $1,117. Recommendation: Management should compare the required annual amount to the monthly deposits made to determine if the correct amount is deposited. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The replacement reserve deficiency was funded on July 8, 2022 in the amount of $1,117. Management will ensure that the replacement reserve deposits are made on a timely basis in the future. Response Indicator: Agree Completion Date: July 8, 2022 Response: Management agrees with the finding. The replacement reserve deficiency was funded on July 8, 2022 in the amount of $1,117. Management will ensure that the replacement reserve deposits are made on a timely basis in the future.