FAC Explorer

Audit 30431

FY End
2022-06-30
Total Expended
$1.76M
Findings
2
Programs
3
Organization: St. Clements Nonprofit Hdc St. Clements Manor 044-Eh210 (MI)
Year: 2022 Accepted: 2023-03-30
Auditor: Boisvenu & Company PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
37088 2022-001 - - N
613530 2022-001 - - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $1.38M Yes 1
14.195 Section 8 Housing Assistance Payments Program $333,732 - 0
14.191 Multifamily Housing Service Coordinators $51,901 - 0

Contacts

Name Title Type
UHXZEMK8UZ85 Cedric Flounory Auditee
7345954760 Michael Boisvenu Auditor
No contacts on file

Notes to SEFA

Title: 3. SUBRECIPIENTS: Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of St. Clements NonProfit Housing Development Corporation, St. Clements Manor under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of St. Clements NonProfit Housing Development Corporation, St. Clements Manor, it is not intended to and does not present the financial position, changes in net assets, or cash flows of St. Clements NonProfit Housing Development Corporation, St. Clements Manor. 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: 2. INDIRECT COST RATE: St. Clements NonProfit Housing Development Corporation, St. Clements Manor has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. There were no awards passed through to subrecipients.
Title: 4. FEDERAL LOAN PROGRAM AWARD: Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of St. Clements NonProfit Housing Development Corporation, St. Clements Manor under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of St. Clements NonProfit Housing Development Corporation, St. Clements Manor, it is not intended to and does not present the financial position, changes in net assets, or cash flows of St. Clements NonProfit Housing Development Corporation, St. Clements Manor. 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: 2. INDIRECT COST RATE: St. Clements NonProfit Housing Development Corporation, St. Clements Manor has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. St. Clements NonProfit Housing Development Corporation, St. Clements Manor Project has a Federal loan program award. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. St. Clements Manor Project received no additional Federal award loans during the year. The loan balance outstanding at June 30, 2022 consists of: SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) FHA Mortgage Insurance Under Section 202 - Balances outstanding at the end of the audit period were $1,299,253.

Finding Details

Finding 2022-001
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Supportive Housing for the Elderly (Section 202), CFDA 14.157 2022-001 Compliance Requirement: Special Tests and Provisions ? Reserve for Replacements Fund Condition: The reserve for replacements fund account is less than $200,000 as of June 30, 2022. Criteria: The U.S. Department of Housing and Urban Development Form HUD-9250 dated February 26, 2021 for the reserve for replacements fund states that a suspension of deposits to the reserve is allowed as long as a balance of $200,000 is maintained. Cause/Effect: The Project?s management did not maintain the required $200,000 balance in the reserve for replacement fund account during fiscal year end June 30, 2022. Questioned Cost: Undetermined Recommendation: Every effort should be made to comply with the reserve for replacements fund minimum balance requirement. Management should obtain from HUD an updated Form HUD-9250 waiving the $200,000 required minimum deposit. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and the recommended procedures. Every effort will be made to have the reserve for replacements fund minimum balance requirement modified and to comply with the modified balance.
Finding 2022-001
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Supportive Housing for the Elderly (Section 202), CFDA 14.157 2022-001 Compliance Requirement: Special Tests and Provisions ? Reserve for Replacements Fund Condition: The reserve for replacements fund account is less than $200,000 as of June 30, 2022. Criteria: The U.S. Department of Housing and Urban Development Form HUD-9250 dated February 26, 2021 for the reserve for replacements fund states that a suspension of deposits to the reserve is allowed as long as a balance of $200,000 is maintained. Cause/Effect: The Project?s management did not maintain the required $200,000 balance in the reserve for replacement fund account during fiscal year end June 30, 2022. Questioned Cost: Undetermined Recommendation: Every effort should be made to comply with the reserve for replacements fund minimum balance requirement. Management should obtain from HUD an updated Form HUD-9250 waiving the $200,000 required minimum deposit. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and the recommended procedures. Every effort will be made to have the reserve for replacements fund minimum balance requirement modified and to comply with the modified balance.