FAC Explorer

Audit 317313

FY End
2023-06-30
Total Expended
$4.51M
Findings
2
Programs
2
Organization: God City Housing Development Fund Company, Inc. (NY)
Year: 2023 Accepted: 2024-08-15
Auditor: Efpr Group Cpa's PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
481188 2023-002 - - L
1057630 2023-002 - - L

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.64M Yes 1
14.195 Section 8 Housing Assistance Payments Program $873,407 - 0

Contacts

Name Title Type
EJC9V3LSJNN9 Joy Kelly Auditee
7168812526 Robert Williams, CPA Auditor
No contacts on file

Notes to SEFA

Title: Mortgage Payable Accounting Policies: The information is presented on the accrual basis of accounting. 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 (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The Company does not use the 10% de minimis cost rate. The amount reported for Assistance Listing No. 14.155 in expenditures relate to a U.S. Department of Housing and Urban Development Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects. The ending balance of the loan is $3,540,582 at June 30, 2023.

Finding Details

Finding 2023-002
Condition - The Company has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the years ended June 30, 2023 and 2022. Criteria - According to Uniform Guidance compliance requitements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first. Effect - The Company was not in compliance with the above Uniform Guidance compliance requirement. Cause - Management was not able to obtain a Unique Entity Identifier (UEI) number for the Company. Recommendation - We recommend that management register the Company for a UEI number with the Federal Audit Clearinghouse so that future submissions of Form SF-SAC can be submitted. Management’s Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management has registered for and received a Unique Entity Identifier number with the Federal Clearinghouse as of May 10, 2024.
Finding 2023-002
Condition - The Company has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the years ended June 30, 2023 and 2022. Criteria - According to Uniform Guidance compliance requitements, the audit package and the data collection form shall be submitted 30 days after receipt of the auditor’s report, or 9 months after the end of the fiscal year, whichever comes first. Effect - The Company was not in compliance with the above Uniform Guidance compliance requirement. Cause - Management was not able to obtain a Unique Entity Identifier (UEI) number for the Company. Recommendation - We recommend that management register the Company for a UEI number with the Federal Audit Clearinghouse so that future submissions of Form SF-SAC can be submitted. Management’s Reply - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management has registered for and received a Unique Entity Identifier number with the Federal Clearinghouse as of May 10, 2024.