FAC Explorer

Audit 308635

FY End
2023-12-31
Total Expended
$8.18M
Findings
2
Programs
4
Organization: Longmont Housing Authority (CO)
Year: 2023 Accepted: 2024-06-12
Auditor: Eide Bailly LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
400585 2023-001 Significant Deficiency Yes L
977027 2023-001 Significant Deficiency Yes L

Programs

ALN Program Spent Major Findings
14.871 Section 8 Housing Choice Vouchers $6.44M Yes 0
14.218 Community Development Block Grants/entitlement Grants $100,000 - 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $64,500 Yes 0
14.249 Section 8 Moderate Rehabilitation Single Room Occupancy $49,379 - 0

Contacts

Name Title Type
H37LQF272MC2 Kyndra Daniels Auditee
3037743556 Alexis Odden Auditor
No contacts on file

Notes to SEFA

Title: Note 1 - Basis of Presentation 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. No federal financial assistance has been provided to a subrecipient. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10% de minimis cost rate and does not draw for indirect administrative expenses. The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Longmont Housing Authority under programs of the federal government for the year ended December 31, 2023. The information 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Longmont Housing Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of Longmont Housing Authority.
Title: Note 4 - Loan Program Related to Coronavirus State and Local Recovery Funds 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. No federal financial assistance has been provided to a subrecipient. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10% de minimis cost rate and does not draw for indirect administrative expenses. Expenditures reported in this schedule consist of the beginning of the year outstanding loan balance plus advances made on the loan during the year. There were no advances made on the loan during 2023. The outstanding balance at December 31, 2023 was $104,943.

Finding Details

Finding 2023-001
U.S. Department of Housing and Urban Development – CFDA #21.027 Coronavirus State and Local Fiscal Recovery Funds Applicable Federal Award Number and Year – CSLRF / ARPA Funds – 2023 Reporting Significant Deficiency in Internal Control over Compliance and Noncompliance Criteria: The Program requires the Authority to prepare and provide quarterly financial status reports to the granting agency. Condition: During our testing over reporting, we noted that quarterly reports were prepared and submitted late. Cause: The Authority’s internal controls related to the reporting requirements were not operating as designed. Effect: Weaknesses in internal control over compliance could result in the Authority failing to comply with reporting requirements. Questioned Costs: N/A Context/Sampling: N/A Repeat Finding from Prior Year: No. Recommendation: We recommend that the Authority establish controls to ensure the proper reporting is prepared and submitted. View of Responsible Officials: Management agrees with the finding.
Finding 2023-001
U.S. Department of Housing and Urban Development – CFDA #21.027 Coronavirus State and Local Fiscal Recovery Funds Applicable Federal Award Number and Year – CSLRF / ARPA Funds – 2023 Reporting Significant Deficiency in Internal Control over Compliance and Noncompliance Criteria: The Program requires the Authority to prepare and provide quarterly financial status reports to the granting agency. Condition: During our testing over reporting, we noted that quarterly reports were prepared and submitted late. Cause: The Authority’s internal controls related to the reporting requirements were not operating as designed. Effect: Weaknesses in internal control over compliance could result in the Authority failing to comply with reporting requirements. Questioned Costs: N/A Context/Sampling: N/A Repeat Finding from Prior Year: No. Recommendation: We recommend that the Authority establish controls to ensure the proper reporting is prepared and submitted. View of Responsible Officials: Management agrees with the finding.