FAC Explorer

Audit 317901

FY End
2021-03-31
Total Expended
$3.06M
Findings
2
Programs
1
Organization: Housing Initiatives, Inc. (VT)
Year: 2021 Accepted: 2024-08-26
Auditor: Efpr Group Cpa's PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
485113 2021-001 - - L
1061555 2021-001 - - L

Programs

ALN Program Spent Major Findings
21.019 Coronavirus Relief Fund $3.06M Yes 1

Contacts

Name Title Type
DSB6LZSN1QE1 Kevin Loso Auditee
8027752926 Andrew Fox, CPA Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The amounts reported as federal expenditures are presented on the accrual basis of accounting and were derived from the Corporation’s general ledger for the U.S. Department of the Treasury Coronavirus Relief Fund. De Minimis Rate Used: N Rate Explanation: The Corporation has not elected to incorporate the 10% de minimis option as allowed by Uniform Guidance. A negotiated indirect cost rate is used in the contract with the engineering firm.

Finding Details

Finding 2021-001
Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended March 31, 2021. Criteria - According to Uniform Guidance compliance requirements, 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 Corporation was not in compliance with the above Uniform Guidance compliance requirement. Cause - The delay in submission was due to the Corporation being unaware of the reporting requirements of the federal award as this was a one time award. Recommendation - We recommend the Corporation thoroughly review all compliance requirements of any award granted in the future. 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 will review any future grant awards for reporting requirements to ensure timely submission. (c) Planned implementation date of corrective action - The Corporation will submit Form SF-SAC to the Federal Audit Clearinghouse within 30 days of the Independent Auditors’ Report date.
Finding 2021-001
Condition - The Corporation has not submitted Form SF-SAC to the Federal Audit Clearinghouse for the year ended March 31, 2021. Criteria - According to Uniform Guidance compliance requirements, 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 Corporation was not in compliance with the above Uniform Guidance compliance requirement. Cause - The delay in submission was due to the Corporation being unaware of the reporting requirements of the federal award as this was a one time award. Recommendation - We recommend the Corporation thoroughly review all compliance requirements of any award granted in the future. 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 will review any future grant awards for reporting requirements to ensure timely submission. (c) Planned implementation date of corrective action - The Corporation will submit Form SF-SAC to the Federal Audit Clearinghouse within 30 days of the Independent Auditors’ Report date.