FAC Explorer

Audit 297245

FY End
2023-06-30
Total Expended
$5.76M
Findings
4
Programs
2
Organization: St. Mark United Methodist Church Housing Foundation, Inc. (IL)
Year: 2023 Accepted: 2024-03-25
Auditor: Alexander Mannie & Company PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
384104 2023-001 Material Weakness - L
384105 2023-001 Material Weakness - L
960546 2023-001 Material Weakness - L
960547 2023-001 Material Weakness - L

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $4.56M Yes 1
14.195 Section 8 Housing Assistance Payments Program $1.20M Yes 1

Contacts

Name Title Type
WXNLBRF7AWD5 Takisha Artis Auditee
8158069990 Reginald Keith Mannie Auditor
No contacts on file

Notes to SEFA

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: St. Mark United Methodist Church Housing Foundation, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2023-001
As a result of our audit, we proposed eight (8) audit adjusting entries to correct the books as originally provided to us for audit. Most of these adjustments proposed were material to the financial statements. Adjustments were necessary for basis areas such as fixed assets, accumulated depreciation, deferred revenue, revenue, and expenses.
Finding 2023-001
As a result of our audit, we proposed eight (8) audit adjusting entries to correct the books as originally provided to us for audit. Most of these adjustments proposed were material to the financial statements. Adjustments were necessary for basis areas such as fixed assets, accumulated depreciation, deferred revenue, revenue, and expenses.
Finding 2023-001
As a result of our audit, we proposed eight (8) audit adjusting entries to correct the books as originally provided to us for audit. Most of these adjustments proposed were material to the financial statements. Adjustments were necessary for basis areas such as fixed assets, accumulated depreciation, deferred revenue, revenue, and expenses.
Finding 2023-001
As a result of our audit, we proposed eight (8) audit adjusting entries to correct the books as originally provided to us for audit. Most of these adjustments proposed were material to the financial statements. Adjustments were necessary for basis areas such as fixed assets, accumulated depreciation, deferred revenue, revenue, and expenses.