FAC Explorer

Audit 304378

FY End
2023-06-30
Total Expended
$1.95M
Findings
2
Programs
3
Organization: Housing Authority of the Town of Windsor Locks (CT)
Year: 2023 Accepted: 2024-04-24
Auditor: Maletta & Company CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
394371 2023-001 - - A
970813 2023-001 - - A

Programs

ALN Program Spent Major Findings
14.871 Section 8 Housing Choice Vouchers $1.38M Yes 0
14.850 Public and Indian Housing $298,649 - 1
14.872 Public Housing Capital Fund Program $274,379 - 0

Contacts

Name Title Type
YRTPCNG8GEL3 Jane Isnor Auditee
8606271455 Jason Geel Auditor
No contacts on file

Notes to SEFA

Title: NOTE C – PROGRAM COST Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Authority under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, change in net positions, or cash flows of the Authority. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The amounts presented as federal expenditures represent only the federal portion of the actual program costs. Actual program costs, including the Authority’s portion, may be more than is shown on the schedule.

Finding Details

Finding 2023-001
U.S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding 2023-001: Allowable Activities / Allowable Costs Public Housing #14.850 Statement of Condition and Criteria Audit reporting of interfund receivable balances owed to the Public Housing program from the State and Local program indicated potential unallowable uses of program funds. Public housing operating funds are to be used for project-specific operating costs and are further precluded from use as temporary loans to other programs. Cause Cash management procedures do not always allow for sufficient cash reserves to cover interfund balances. Effect or Potential Effect Public housing funds were used for other programs which could remain unpaid if the receiving program has a cash flow shortfall as had occurred as of the fiscal year end. Question Costs: $67,198 Recommendation We recommend the Authority reconcile and settle interfund balances on a monthly basis. In addition, we recommend the Authority establish controls to restrict interfund transactions for which there is no certainty of reimbursement before the accounting period cutoff. Management’s Response Management agrees with the finding and corrective action is in progress as detailed in the Corrective Action Plan.
Finding 2023-001
U.S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding 2023-001: Allowable Activities / Allowable Costs Public Housing #14.850 Statement of Condition and Criteria Audit reporting of interfund receivable balances owed to the Public Housing program from the State and Local program indicated potential unallowable uses of program funds. Public housing operating funds are to be used for project-specific operating costs and are further precluded from use as temporary loans to other programs. Cause Cash management procedures do not always allow for sufficient cash reserves to cover interfund balances. Effect or Potential Effect Public housing funds were used for other programs which could remain unpaid if the receiving program has a cash flow shortfall as had occurred as of the fiscal year end. Question Costs: $67,198 Recommendation We recommend the Authority reconcile and settle interfund balances on a monthly basis. In addition, we recommend the Authority establish controls to restrict interfund transactions for which there is no certainty of reimbursement before the accounting period cutoff. Management’s Response Management agrees with the finding and corrective action is in progress as detailed in the Corrective Action Plan.