FAC Explorer

Audit 318359

FY End
2024-03-31
Total Expended
$17.49M
Findings
4
Programs
10
Organization: Housing Authority of the City of Cheyenne (WY)
Year: 2024 Accepted: 2024-09-03
Auditor: Niewedde & Wiens Cpa's

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
485586 2024-002 Material Weakness - N
485587 2024-002 Material Weakness - N
1062028 2024-002 Material Weakness - N
1062029 2024-002 Material Weakness - N

Programs

ALN Program Spent Major Findings
14.871 Section 8 Housing Choice Vouchers $14.03M Yes 1
14.850 Public and Indian Housing $1.46M Yes 1
14.872 Public Housing Capital Fund $1.09M Yes 0
14.182 Section 8 New Construction and Substantial Rehabilitation $410,853 - 0
93.045 Special Programs for the Aging_title Iii, Part C_nutrition Services $148,821 - 0
93.044 Special Programs for the Aging_title Iii, Part B_grants for Supportive Services and Senior Centers $110,788 - 0
93.052 National Family Caregiver Support, Title Iii, Part E $107,104 - 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $65,713 - 0
14.218 Community Development Block Grants/entitlement Grants $38,671 - 0
93.053 Nutrition Services Incentive Program $25,710 - 0

Contacts

Name Title Type
MCD5SMMWNBE5 Greg Hancock Auditee
3076338317 Jeffrey J Wiens Auditor
No contacts on file

Notes to SEFA

Accounting Policies: 1. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Housing Authority of the City of Cheyenne and is presented in accordance with generally accepted accounting principles. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: 2. The entity did not elect to use the 10% de minimus cost rate as covered in § 200.414 Indirect (F&A) costs.

Finding Details

Finding 2024-002
Finding 2024-002: Special Tests and Provisions Housing Choice Voucher/Public Housing Material Weakness/Noncompliance Criteria: PHAs are required to enter into depository agreements with their financial institutions in the form required by HUD. The agreements serve as safeguards for federal funds and provide third party rights to HUD. Among the terms in many agreements are requirements for funds to be placed in an interest-bearing account (24 CFR section 982.156). Condition: The General Depository Agreement, Form HUD 51999, requires that Authority funds not insured by a Federal insurance organization be fully and continuously collateralized with specific and identifiable U.S. Government or Agency securities prescribed by HUD in a notice. During our audit, we noted one bank had pledged local government investments which did not meet the terms of the General Depository Agreement. As a result, $269,065.12 of deposits at March 31, 2024 were not properly collateralized. We further noted the Authority did have the depository agreements signed by the bank but the Authority did not sign the agreements. Cause: The Authority did not have procedures in place to monitor that pledges of collateral met the requirements of the General Depository Agreement. Effect or Potential Effect: The Authority was in noncompliance. Recommendation: The Authority should review the General Depository Agreement so that it is aware of the terms and establish procedures to monitor the all Public Housing and Housing Choice Voucher funds are either insured or properly collateralized at all times. Further, the Authority should make have the General Depository Agreements signed by all parties. View of the Responsible Officials of the Auditee: The auditee’s management agrees with the finding.
Finding 2024-002
Finding 2024-002: Special Tests and Provisions Housing Choice Voucher/Public Housing Material Weakness/Noncompliance Criteria: PHAs are required to enter into depository agreements with their financial institutions in the form required by HUD. The agreements serve as safeguards for federal funds and provide third party rights to HUD. Among the terms in many agreements are requirements for funds to be placed in an interest-bearing account (24 CFR section 982.156). Condition: The General Depository Agreement, Form HUD 51999, requires that Authority funds not insured by a Federal insurance organization be fully and continuously collateralized with specific and identifiable U.S. Government or Agency securities prescribed by HUD in a notice. During our audit, we noted one bank had pledged local government investments which did not meet the terms of the General Depository Agreement. As a result, $269,065.12 of deposits at March 31, 2024 were not properly collateralized. We further noted the Authority did have the depository agreements signed by the bank but the Authority did not sign the agreements. Cause: The Authority did not have procedures in place to monitor that pledges of collateral met the requirements of the General Depository Agreement. Effect or Potential Effect: The Authority was in noncompliance. Recommendation: The Authority should review the General Depository Agreement so that it is aware of the terms and establish procedures to monitor the all Public Housing and Housing Choice Voucher funds are either insured or properly collateralized at all times. Further, the Authority should make have the General Depository Agreements signed by all parties. View of the Responsible Officials of the Auditee: The auditee’s management agrees with the finding.
Finding 2024-002
Finding 2024-002: Special Tests and Provisions Housing Choice Voucher/Public Housing Material Weakness/Noncompliance Criteria: PHAs are required to enter into depository agreements with their financial institutions in the form required by HUD. The agreements serve as safeguards for federal funds and provide third party rights to HUD. Among the terms in many agreements are requirements for funds to be placed in an interest-bearing account (24 CFR section 982.156). Condition: The General Depository Agreement, Form HUD 51999, requires that Authority funds not insured by a Federal insurance organization be fully and continuously collateralized with specific and identifiable U.S. Government or Agency securities prescribed by HUD in a notice. During our audit, we noted one bank had pledged local government investments which did not meet the terms of the General Depository Agreement. As a result, $269,065.12 of deposits at March 31, 2024 were not properly collateralized. We further noted the Authority did have the depository agreements signed by the bank but the Authority did not sign the agreements. Cause: The Authority did not have procedures in place to monitor that pledges of collateral met the requirements of the General Depository Agreement. Effect or Potential Effect: The Authority was in noncompliance. Recommendation: The Authority should review the General Depository Agreement so that it is aware of the terms and establish procedures to monitor the all Public Housing and Housing Choice Voucher funds are either insured or properly collateralized at all times. Further, the Authority should make have the General Depository Agreements signed by all parties. View of the Responsible Officials of the Auditee: The auditee’s management agrees with the finding.
Finding 2024-002
Finding 2024-002: Special Tests and Provisions Housing Choice Voucher/Public Housing Material Weakness/Noncompliance Criteria: PHAs are required to enter into depository agreements with their financial institutions in the form required by HUD. The agreements serve as safeguards for federal funds and provide third party rights to HUD. Among the terms in many agreements are requirements for funds to be placed in an interest-bearing account (24 CFR section 982.156). Condition: The General Depository Agreement, Form HUD 51999, requires that Authority funds not insured by a Federal insurance organization be fully and continuously collateralized with specific and identifiable U.S. Government or Agency securities prescribed by HUD in a notice. During our audit, we noted one bank had pledged local government investments which did not meet the terms of the General Depository Agreement. As a result, $269,065.12 of deposits at March 31, 2024 were not properly collateralized. We further noted the Authority did have the depository agreements signed by the bank but the Authority did not sign the agreements. Cause: The Authority did not have procedures in place to monitor that pledges of collateral met the requirements of the General Depository Agreement. Effect or Potential Effect: The Authority was in noncompliance. Recommendation: The Authority should review the General Depository Agreement so that it is aware of the terms and establish procedures to monitor the all Public Housing and Housing Choice Voucher funds are either insured or properly collateralized at all times. Further, the Authority should make have the General Depository Agreements signed by all parties. View of the Responsible Officials of the Auditee: The auditee’s management agrees with the finding.