Title: Note 3
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accural basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
The balance of the capital advance at December 31, 2023 is $5,277,000.
Finding reference number: 2023-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the
Elderly, Assistance Listing No. 14.157, 122-EE166-WAH-NP and 2002
Auditor non-compliance code: Z - Other
Finding resolution status: Resolved
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition 2023-001: For the year ended December 31, 2022, the Corporation did
not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days
after receipt of the auditor's report on March 31, 2023. The audited financial statements were
submitted to the Federal Audit Clearinghouse on May 11, 2023.
Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited
financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after
receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Corporation is not in compliance with the federal reporting requirements.
Cause: Management oversight.
Recommendation: The Corporation should submit audited financial statements to the Federal Audit
Clearinghouse within the time frames required.
Management's response: Management concurs with the finding and agrees with the auditor's
recommendation. The audited financial statements have been submitted to the Federal Audit
Clearinghouse. No further action required.
Finding reference number: 2023-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the
Elderly, Assistance Listing No. 14.157, 122-EE166-WAH-NP and 2002
Auditor non-compliance code: Z - Other
Finding resolution status: Resolved
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition 2023-001: For the year ended December 31, 2022, the Corporation did
not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days
after receipt of the auditor's report on March 31, 2023. The audited financial statements were
submitted to the Federal Audit Clearinghouse on May 11, 2023.
Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited
financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after
receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Corporation is not in compliance with the federal reporting requirements.
Cause: Management oversight.
Recommendation: The Corporation should submit audited financial statements to the Federal Audit
Clearinghouse within the time frames required.
Management's response: Management concurs with the finding and agrees with the auditor's
recommendation. The audited financial statements have been submitted to the Federal Audit
Clearinghouse. No further action required.
Finding reference number: 2023-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the
Elderly, Assistance Listing No. 14.157, 122-EE166-WAH-NP and 2002
Auditor non-compliance code: Z - Other
Finding resolution status: Resolved
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition 2023-001: For the year ended December 31, 2022, the Corporation did
not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days
after receipt of the auditor's report on March 31, 2023. The audited financial statements were
submitted to the Federal Audit Clearinghouse on May 11, 2023.
Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited
financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after
receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Corporation is not in compliance with the federal reporting requirements.
Cause: Management oversight.
Recommendation: The Corporation should submit audited financial statements to the Federal Audit
Clearinghouse within the time frames required.
Management's response: Management concurs with the finding and agrees with the auditor's
recommendation. The audited financial statements have been submitted to the Federal Audit
Clearinghouse. No further action required.
Finding reference number: 2023-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the
Elderly, Assistance Listing No. 14.157, 122-EE166-WAH-NP and 2002
Auditor non-compliance code: Z - Other
Finding resolution status: Resolved
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: N/A
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition 2023-001: For the year ended December 31, 2022, the Corporation did
not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days
after receipt of the auditor's report on March 31, 2023. The audited financial statements were
submitted to the Federal Audit Clearinghouse on May 11, 2023.
Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited
financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after
receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Corporation is not in compliance with the federal reporting requirements.
Cause: Management oversight.
Recommendation: The Corporation should submit audited financial statements to the Federal Audit
Clearinghouse within the time frames required.
Management's response: Management concurs with the finding and agrees with the auditor's
recommendation. The audited financial statements have been submitted to the Federal Audit
Clearinghouse. No further action required.