FAC Explorer

Audit 29955

FY End
2022-06-30
Total Expended
$963,766
Findings
2
Programs
1
Organization: Belmeno - Hope Harbor Housing Dba Belmeno Manor (CA)
Year: 2022 Accepted: 2023-02-08
Auditor: Douglas & Bhagat CPA Services INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
29095 2022-001 Significant Deficiency - P
605537 2022-001 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $963,766 Yes 1

Contacts

Name Title Type
RC3QU4GM62N8 Charles Decuir Auditee
3105430104 Nicole Douglas Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures 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 auditee did not use the de minimis cost rate. NOTE A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal award activity of Belmeno Hope Harbor Housing dba Belmeno Manor under programs of the federal government for the year ended June 30, 2022 and is the responsibility of management and was derived from, and relates directly to, the underlying accounting and other records used to prepare the financial statements. 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 Belmeno Hope Harbor Housing dba Belmeno Manor, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Belmeno Hope Harbor Housing dba Belmeno Manor.

Finding Details

Finding 2022-001
? Criteria or specific requirement: Assignment of responsibility to the Sponsor (HOPE, Inc.) and Board of Directors that the audited financial statements are timely submitted to HUD Real Estate Assessment Center (REAC) ? Condition: REAC submissions of audited financial statements are due within 90 days of the Organization?s fiscal year end of June 30, 2022 and 2021 ? Effect: Could result in penalties charged by HUD due to the fact that the submissions were late for the last two fiscal years ? Cause: The Sponsor fired the property management company after the June 30, 2022 fiscal year and it was difficult for the Organization and independent auditor to acquire financial information from this property management company ? Recommendation: Before making any changes to management companies the Organization needs to verify that they have all necessary financial information to the independent auditor ? Management's response: The Sponsor and Board of Directors will consult with the independent auditor in the future before making any changes to management companies so they can plan accordingly
Finding 2022-001
? Criteria or specific requirement: Assignment of responsibility to the Sponsor (HOPE, Inc.) and Board of Directors that the audited financial statements are timely submitted to HUD Real Estate Assessment Center (REAC) ? Condition: REAC submissions of audited financial statements are due within 90 days of the Organization?s fiscal year end of June 30, 2022 and 2021 ? Effect: Could result in penalties charged by HUD due to the fact that the submissions were late for the last two fiscal years ? Cause: The Sponsor fired the property management company after the June 30, 2022 fiscal year and it was difficult for the Organization and independent auditor to acquire financial information from this property management company ? Recommendation: Before making any changes to management companies the Organization needs to verify that they have all necessary financial information to the independent auditor ? Management's response: The Sponsor and Board of Directors will consult with the independent auditor in the future before making any changes to management companies so they can plan accordingly