FAC Explorer

Audit 303051

FY End
2023-06-30
Total Expended
$2.39M
Findings
4
Programs
2
Organization: Ahepa 310-Iv, Inc. (AL)
Year: 2023 Accepted: 2024-04-09
Auditor: Clark Schaefer Hackett

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
392742 2023-001 Significant Deficiency - A
392743 2023-001 Significant Deficiency - A
969184 2023-001 Significant Deficiency - A
969185 2023-001 Significant Deficiency - A

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.96M Yes 1
14.195 Section 8 Housing Assistance Payments Program $425,446 - 1

Contacts

Name Title Type
KDBTDXHHH677 Dawn Cole Auditee
3178453410 Jonah Colvin Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances 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: The auditee did not use the de minimis cost rate The outstanding balance of the HUD Capital Advance at June 30, 2023 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $1,918,811.

Finding Details

Finding 2023-001
S3800-010 Finding reference number 2023-001 S3800-011 Title and AL number of federal program Mortgage Insurance for the Purchase or Refinancing of Existing #14.155 S3800-015 Type of finding Federal Award Finding and Internal Control over Compliance S3800-016 Finding resolution status Complete S3800-017 Information on universe population size not applicable S3800-018 Sample size information not applicable S3800-019 Identification of repeat finding and finding reference number not applicable S3800-020 Criteria The Regulatory Agreement between HUD and the owner stipulates that HUD approval is required for replacement reserve withdrawals. S3800-030 Statement of condition The Organization made a withdrawal of $5,250 that was not approved by HUD from the replacement reserve account. S3800-032 Cause Management did not request HUD approval. S3800-033 Effect or potential effect Cash may be unavailable to meet reasonable and necessary capital obligations of the project. S3800-035 Auditor non-compliance code A - Unauthorized withdrawals from replacement reserve account S3800-037 FHA/Contract number 062-11142 S3800-040 Questioned costs $0 S3800-045 Reporting views of responsible officials Management agrees. S3800-080 Recommendation Management should monitor internal controls over compliance and receive HUD approval before distributions from the replacement reserve account are authorized. S3800-090 Auditors' summary of the auditee's comments on the findings and recommendations Management concurs. S3800-130 Response indicator Agree S3800-140 Anticipated Completion Date March 31, 2024 S3800-150 Response Management will either get HUD approval or refund the distributions made.
Finding 2023-001
S3800-010 Finding reference number 2023-001 S3800-011 Title and AL number of federal program Mortgage Insurance for the Purchase or Refinancing of Existing #14.155 S3800-015 Type of finding Federal Award Finding and Internal Control over Compliance S3800-016 Finding resolution status Complete S3800-017 Information on universe population size not applicable S3800-018 Sample size information not applicable S3800-019 Identification of repeat finding and finding reference number not applicable S3800-020 Criteria The Regulatory Agreement between HUD and the owner stipulates that HUD approval is required for replacement reserve withdrawals. S3800-030 Statement of condition The Organization made a withdrawal of $5,250 that was not approved by HUD from the replacement reserve account. S3800-032 Cause Management did not request HUD approval. S3800-033 Effect or potential effect Cash may be unavailable to meet reasonable and necessary capital obligations of the project. S3800-035 Auditor non-compliance code A - Unauthorized withdrawals from replacement reserve account S3800-037 FHA/Contract number 062-11142 S3800-040 Questioned costs $0 S3800-045 Reporting views of responsible officials Management agrees. S3800-080 Recommendation Management should monitor internal controls over compliance and receive HUD approval before distributions from the replacement reserve account are authorized. S3800-090 Auditors' summary of the auditee's comments on the findings and recommendations Management concurs. S3800-130 Response indicator Agree S3800-140 Anticipated Completion Date March 31, 2024 S3800-150 Response Management will either get HUD approval or refund the distributions made.
Finding 2023-001
S3800-010 Finding reference number 2023-001 S3800-011 Title and AL number of federal program Mortgage Insurance for the Purchase or Refinancing of Existing #14.155 S3800-015 Type of finding Federal Award Finding and Internal Control over Compliance S3800-016 Finding resolution status Complete S3800-017 Information on universe population size not applicable S3800-018 Sample size information not applicable S3800-019 Identification of repeat finding and finding reference number not applicable S3800-020 Criteria The Regulatory Agreement between HUD and the owner stipulates that HUD approval is required for replacement reserve withdrawals. S3800-030 Statement of condition The Organization made a withdrawal of $5,250 that was not approved by HUD from the replacement reserve account. S3800-032 Cause Management did not request HUD approval. S3800-033 Effect or potential effect Cash may be unavailable to meet reasonable and necessary capital obligations of the project. S3800-035 Auditor non-compliance code A - Unauthorized withdrawals from replacement reserve account S3800-037 FHA/Contract number 062-11142 S3800-040 Questioned costs $0 S3800-045 Reporting views of responsible officials Management agrees. S3800-080 Recommendation Management should monitor internal controls over compliance and receive HUD approval before distributions from the replacement reserve account are authorized. S3800-090 Auditors' summary of the auditee's comments on the findings and recommendations Management concurs. S3800-130 Response indicator Agree S3800-140 Anticipated Completion Date March 31, 2024 S3800-150 Response Management will either get HUD approval or refund the distributions made.
Finding 2023-001
S3800-010 Finding reference number 2023-001 S3800-011 Title and AL number of federal program Mortgage Insurance for the Purchase or Refinancing of Existing #14.155 S3800-015 Type of finding Federal Award Finding and Internal Control over Compliance S3800-016 Finding resolution status Complete S3800-017 Information on universe population size not applicable S3800-018 Sample size information not applicable S3800-019 Identification of repeat finding and finding reference number not applicable S3800-020 Criteria The Regulatory Agreement between HUD and the owner stipulates that HUD approval is required for replacement reserve withdrawals. S3800-030 Statement of condition The Organization made a withdrawal of $5,250 that was not approved by HUD from the replacement reserve account. S3800-032 Cause Management did not request HUD approval. S3800-033 Effect or potential effect Cash may be unavailable to meet reasonable and necessary capital obligations of the project. S3800-035 Auditor non-compliance code A - Unauthorized withdrawals from replacement reserve account S3800-037 FHA/Contract number 062-11142 S3800-040 Questioned costs $0 S3800-045 Reporting views of responsible officials Management agrees. S3800-080 Recommendation Management should monitor internal controls over compliance and receive HUD approval before distributions from the replacement reserve account are authorized. S3800-090 Auditors' summary of the auditee's comments on the findings and recommendations Management concurs. S3800-130 Response indicator Agree S3800-140 Anticipated Completion Date March 31, 2024 S3800-150 Response Management will either get HUD approval or refund the distributions made.