FAC Explorer

Audit 29112

FY End
2022-09-30
Total Expended
$867,536
Findings
2
Programs
2
Organization: Partnership for Seniors, Inc. Dba Leeds Housing for the Elderly (FL)
Year: 2022 Accepted: 2023-01-15
Auditor: Bellows Associates P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
29064 2022-001 - - N
605506 2022-001 - - N

Programs

ALN Program Spent Major Findings
14.157 Section 202 Supportive Housing for the Elderly $613,911 Yes 1
14.195 Section 8 Housing Assistance Payments Program $253,625 - 0

Contacts

Name Title Type
D5E3WVDN21N7 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

Title: NOTE C U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT DIRECT LOAN Accounting Policies: NOTE A BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of Partnership for Seniors, Inc., operating as Leeds Housing for the Elderly, HUD Project No. 024-EH157 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 Partnership for Seniors, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Partnership for Seniors, Inc. NOTE B SUMMARY OF SIGNIFICANT 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. De Minimis Rate Used: N Rate Explanation: Partnership for Seniors, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Partnership for Seniors, Inc. has received a HUD mortgage note under Section 202 of the Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. Partnership for Seniors, Inc. received no additional loans during the year. The balance of the loan outstanding as of September 30, 2022 was $572,930.

Finding Details

Finding 2022-001
FINDING No. 2022-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Resolved. Information on Universe Population Size: Residual Receipts. Sample Size Information: Residual Receipts. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD regulations, surplus cash must be deposited into the residual receipts account within 90 days after the fiscal year-end. Statement of Condition: The Project did not deposit surplus cash of $14,057 into the residual receipts account within 90 days from the fiscal year-end. Cause: The Project did not create a residual receipts bank account in time to deposit the surplus cash into the account within the required time frame. Effect or Potential Effect: The Project is noncompliant with the HUD requirement to deposit the surplus cash into the residual receipts account within the required timeframe. Auditor Non-Compliance Code: B ? Failure to make required residual receipts deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations have been adopted. Recommendation: The Project should implement procedures to appropriately and timely identify surplus cash at each fiscal year-end and deposit those funds in the residual receipts account within 90 days after the Project?s fiscal year-end. Response Indicator: Agree. Completion Date: 02/09/2022 Response: The former accountant did not request a timely transfer of the surplus. All current accountants have been trained on the proper surplus cash procedures.
Finding 2022-001
FINDING No. 2022-001: Section 202 Supportive Housing for the Elderly, CFDA 14.157 Finding Resolution Status: Resolved. Information on Universe Population Size: Residual Receipts. Sample Size Information: Residual Receipts. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD regulations, surplus cash must be deposited into the residual receipts account within 90 days after the fiscal year-end. Statement of Condition: The Project did not deposit surplus cash of $14,057 into the residual receipts account within 90 days from the fiscal year-end. Cause: The Project did not create a residual receipts bank account in time to deposit the surplus cash into the account within the required time frame. Effect or Potential Effect: The Project is noncompliant with the HUD requirement to deposit the surplus cash into the residual receipts account within the required timeframe. Auditor Non-Compliance Code: B ? Failure to make required residual receipts deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations have been adopted. Recommendation: The Project should implement procedures to appropriately and timely identify surplus cash at each fiscal year-end and deposit those funds in the residual receipts account within 90 days after the Project?s fiscal year-end. Response Indicator: Agree. Completion Date: 02/09/2022 Response: The former accountant did not request a timely transfer of the surplus. All current accountants have been trained on the proper surplus cash procedures.