FAC Explorer

Audit 300187

FY End
2023-12-31
Total Expended
$1.14M
Findings
0
Programs
2
Organization: Miller Road Housing Development Fund Company, Inc. (NY)
Year: 2023 Accepted: 2024-03-29
Auditor: Bonadio & CO LLP

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $922,305 Yes 0
14.195 Section 8 Housing Assistance Payments Program $217,099 - 0

Contacts

Name Title Type
LR54JJK6LHK8 Kyle Lyskawa Auditee
3154241821 Bettina Lipphardt Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Basis of Presentation This schedule of expenditures of federal awards includes the federal grant activity of Miller Road Housing Development Fund Company, Inc. (Rogers Senior Apartments), HUD Project No. 014-11187 (the Corporation), 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. Insured Mortgage The Corporation obtained from HUD a guarantee of its mortgage payable. The outstanding balance of this mortgage at December 31, 2023 was $899,331. Indirect Costs The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Indirect Costs The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.