FAC Explorer

Audit 319377

FY End
2023-12-31
Total Expended
$3.33M
Findings
2
Programs
6
Organization: Housing Authority of the City of Fountain (CO)
Year: 2023 Accepted: 2024-09-11
Auditor: Audit Solutions LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
496455 2023-003 Significant Deficiency - E
1072897 2023-003 Significant Deficiency - E

Programs

ALN Program Spent Major Findings
14.871 Section 8 Housing Choice Vouchers $2.51M Yes 1
14.197 Mutifamily Assisted Housing Reform and Affordability Act $381,130 - 0
14.239 Home Investment Partnerships Program $135,656 - 0
14.182 Section 8 New Construction and Substantial Rehabilitation $109,270 - 0
14.872 Public Housing Capital Fund $100,922 - 0
14.850 Public and Indian Housing $95,163 - 0

Contacts

Name Title Type
YAYJVG7CKJL5 Ashlei Reeder Auditee
7193825639 Shoaib Khar Auditor
No contacts on file

Notes to SEFA

Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the Housing Authority of the City of Fountain (Authority) under programs of the federal government for the year ended December 31, 2023. 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, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority. NOTE 2 – SUMMARY OF SIGNIFICANT 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. NOTE 3 – SOURCES OF FUNDING The schedule includes all grants and contracts entered into directly between the Authority and agencies and departments of the federal government, as well as federal funds passed through to the Authority by primary recipients. The Authority provided no part of its direct grant federal dollars to sub-recipients. NOTE 4 – SUB-RECIPIENTS There were no sub-recipients for the year ended December 31, 2023. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2023-003
Criteria: HUD guidelines on tenant file documentation and maintenance must be followed at all times. Condition: During my review of ten (10) HCV program tenant files, I noted the following deficiencies:  One file did not have HUD form 50058.  Six files did not contain independent income verification. Questioned Costs: None noted. Effect: Tenant files are incomplete and could have incorrect rent calculation. Cause: It appears that no supervisory review was performed to ensure completeness of the tenant files. Recommendation: I recommend that the Authority ensure that all tenant files are maintained properly, and supervisory reviews are performed to ensure completeness and accuracy. Management’s Response: Management hired a new Executive Director mid-October 2024. Management and the Executive Director will strive to conduct random tenant/participant file audits while meeting SEMAP guidelines on a monthly basis to ensure and verify compliance with HUD regulations. Documentation will be reviewed for accuracy and completeness and maintained monthly. The Housing Authority will document monthly audits completed until all files have been audited for accuracy and correct information.
Finding 2023-003
Criteria: HUD guidelines on tenant file documentation and maintenance must be followed at all times. Condition: During my review of ten (10) HCV program tenant files, I noted the following deficiencies:  One file did not have HUD form 50058.  Six files did not contain independent income verification. Questioned Costs: None noted. Effect: Tenant files are incomplete and could have incorrect rent calculation. Cause: It appears that no supervisory review was performed to ensure completeness of the tenant files. Recommendation: I recommend that the Authority ensure that all tenant files are maintained properly, and supervisory reviews are performed to ensure completeness and accuracy. Management’s Response: Management hired a new Executive Director mid-October 2024. Management and the Executive Director will strive to conduct random tenant/participant file audits while meeting SEMAP guidelines on a monthly basis to ensure and verify compliance with HUD regulations. Documentation will be reviewed for accuracy and completeness and maintained monthly. The Housing Authority will document monthly audits completed until all files have been audited for accuracy and correct information.