FAC Explorer

Audit 30876

FY End
2022-12-31
Total Expended
$2.98M
Findings
4
Programs
2
Organization: Boyd Manor (LA)
Year: 2022 Accepted: 2023-09-24
Auditor: Wharton CPA LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
28612 2022-001 Significant Deficiency - N
28613 2022-002 Significant Deficiency - N
605054 2022-001 Significant Deficiency - N
605055 2022-002 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $2.84M Yes 2
14.195 Section 8 Housing Assistance Payments Program $144,091 - 0

Contacts

Name Title Type
VX9HHFM6HJM8 Dr. Willie Gable Auditee
5045245471 Brendel Wharton Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note 1 Summary of Significant Accounting PoliciesBasis of Presentation - This schedule includes the activity of NBC Housing, Inc. Twenty-Eight, BoydManor and is presented on the accrual basis of accounting. The information in this schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance).Indirect Cost Rate Boyd Manor did not use the de minimis cost rate.Loan/Loan Guarantee Outstanding Balance - Supportive Housing for the Elderly Capital Advance -The balance outstanding at the end of the audit period was $2,837,500. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 2837500.

Finding Details

Finding 2022-001
2022 ?1 Restricted Fund Usage Questioned Costs: $9,000 Condition: Management failed to utilize restricted funds for the purpose in which they were designated. Criteria: The management company expended $9,000 of funds restricted for use in furnishing tenant common areas and the management office, on daily operating expenses. Cause: Site managers did not expend funds for their intended use. Effect: Restricted funds were not spent appropriately and therefore, should be returned to donor. Recommendation: I recommend management comply with all donor restrictions.
Finding 2022-002
2022 ?2 Excessive Utility (Water) Bill Condition: A local water utility company has a recorded unpaid water bill in excess of $113,000 for the property. Criteria: The local utility company measures water usage each month and invoices the customer for that supposed usage. Cause: The cause of the excessive water bill is undeterminable. Effect: Management is unable to pay a water bill in excess of $113,000 when the property?s usual water bill is approximately $2,000 each month. Recommendation: I recommend management continue to work with the local water utility company to get the bill adjusted to an appropriate amount or determine the cause for the excessive bill.
Finding 2022-001
2022 ?1 Restricted Fund Usage Questioned Costs: $9,000 Condition: Management failed to utilize restricted funds for the purpose in which they were designated. Criteria: The management company expended $9,000 of funds restricted for use in furnishing tenant common areas and the management office, on daily operating expenses. Cause: Site managers did not expend funds for their intended use. Effect: Restricted funds were not spent appropriately and therefore, should be returned to donor. Recommendation: I recommend management comply with all donor restrictions.
Finding 2022-002
2022 ?2 Excessive Utility (Water) Bill Condition: A local water utility company has a recorded unpaid water bill in excess of $113,000 for the property. Criteria: The local utility company measures water usage each month and invoices the customer for that supposed usage. Cause: The cause of the excessive water bill is undeterminable. Effect: Management is unable to pay a water bill in excess of $113,000 when the property?s usual water bill is approximately $2,000 each month. Recommendation: I recommend management continue to work with the local water utility company to get the bill adjusted to an appropriate amount or determine the cause for the excessive bill.