FAC Explorer

Audit 294047

FY End
2022-12-31
Total Expended
$1.00M
Findings
2
Programs
3
Organization: Cedar Park Senior Housing Corporation (MI)
Year: 2022 Accepted: 2024-03-07
Auditor: Seber Tans Plc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
374409 2022-001 Significant Deficiency - L
950851 2022-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $833,481 Yes 1
14.195 Section 8 Housing Assistance Payments Program $159,058 - 0
14.191 Multifamily Housing Service Coordinators $10,593 - 0

Contacts

Name Title Type
MAEDNCUZW4N3 Lorene Willson Auditee
2693491000 Ben Walker Auditor
No contacts on file

Notes to SEFA

Title: NOTE B – U.S. Department of Housing and Urban Development Loan Program Accounting Policies: The Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Cedar Park Senior Housing Corporation FHA Project No. 047-11057 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 the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project. 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: The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Cedar Park Senior Housing Corporation, FHA project 047-11057 has received a U.S. Department of Housing and Urban Development insured loan under Section 223 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Project modified the loan during the year. The balance of the loan outstanding at December 31, 2022, consists of: CFDA Number Program Name Balance 14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects $ 813,821

Finding Details

Finding 2022-001
2022-001 –Noncompliance with Program Reporting Requirements Condition and Criteria: The Project’s submission of the 2022 single audit reporting package was formally due to the Federal Audit Clearinghouse by September 30, 2023 but was not submitted by the due date. Under the Uniform Grant Guidance, Section 200.512, Report Submission, the audit must be completed and the data collection form must be submitted within the earlier of 30 calendar days of the auditor’s report or nine months after end of the audit period. Questioned Costs: None noted. Cause: The Project’s single audit was complete as of December 31, 2022, however, the submission to the Federal Audit Clearinghouse was missed in error. Effect: The Federal reporting package was not received timely by the Federal Audit Clearinghouse which could impact granting agencies. Recommendation: We recommend that the Project continue its efforts in improving controls over financial reporting to ensure timely filing of the single audit reporting package with the Federal Audit Clearinghouse. Management Response: The Project will establish and implement policies and procedures to monitor and ensure that management and staff timely respond to all audit requests.
Finding 2022-001
2022-001 –Noncompliance with Program Reporting Requirements Condition and Criteria: The Project’s submission of the 2022 single audit reporting package was formally due to the Federal Audit Clearinghouse by September 30, 2023 but was not submitted by the due date. Under the Uniform Grant Guidance, Section 200.512, Report Submission, the audit must be completed and the data collection form must be submitted within the earlier of 30 calendar days of the auditor’s report or nine months after end of the audit period. Questioned Costs: None noted. Cause: The Project’s single audit was complete as of December 31, 2022, however, the submission to the Federal Audit Clearinghouse was missed in error. Effect: The Federal reporting package was not received timely by the Federal Audit Clearinghouse which could impact granting agencies. Recommendation: We recommend that the Project continue its efforts in improving controls over financial reporting to ensure timely filing of the single audit reporting package with the Federal Audit Clearinghouse. Management Response: The Project will establish and implement policies and procedures to monitor and ensure that management and staff timely respond to all audit requests.