FAC Explorer

Audit 290237

FY End
2023-06-30
Total Expended
$8.79M
Findings
2
Programs
3
Organization: Brookdale Village Housing Corporation (NY)
Year: 2023 Accepted: 2024-02-13
Auditor: Cohnreznick LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
367066 2023-001 Significant Deficiency - L
943508 2023-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $6.44M Yes 1
14.871 Section 8 Housing Choice Vouchers $2.19M - 0
14.191 Multifamily Housing Service Coordinators $160,230 - 0

Contacts

Name Title Type
NJNZ2JXBX1JJ Matthew Locurto Auditee
2122735257 Mike Bisson 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, as applicable, the cost principles contained in the Uniform Guidance. Brookdale Village Housing Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. MORTGAGE INSURANCE FOR THE PURCHASE OF REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 6,302,006.

Finding Details

Finding 2023-001
The accounting records required numerous material adjustments to be proposed and recorded in order for the financial statements to be fairly presented in accordance with generally accepted accounting principles in the United States of America.
Finding 2023-001
The accounting records required numerous material adjustments to be proposed and recorded in order for the financial statements to be fairly presented in accordance with generally accepted accounting principles in the United States of America.