FAC Explorer

Audit 322506

FY End
2023-12-31
Total Expended
$894,804
Findings
4
Programs
3
Organization: Cheneyville Housing Development Corporation (FL)
Year: 2023 Accepted: 2024-09-30
Auditor: Bellows Associates P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
499623 2023-002 - - N
499624 2023-001 - - N
1076065 2023-002 - - N
1076066 2023-001 - - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $848,100 Yes 1
14.157 Supportive Housing for the Elderly - Prac $40,697 Yes 1
14.157 Supportive Housing for the Elderly - Covid 19 Prac $6,007 Yes 0

Contacts

Name Title Type
LEH8WCN7EKA1 Tamechia Beemon Auditee
3184457985 Jennifer Koffman Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION 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. De Minimis Rate Used: N Rate Explanation: Cheneyville Housing Development Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal award activity of Cheneyville Housing Development Corporation, operating as Oakwood Apartments, HUD Project No. 064-EE091, and 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Cheneyville Housing Development Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cheneyville Housing Development Corporation.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT CAPITAL ADVANCE 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. De Minimis Rate Used: N Rate Explanation: Cheneyville Housing Development Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Cheneyville Housing Development Corporation has received a HUD capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Cheneyville Housing Development Corporation received no additional loans during the year. The balance of the capital advance outstanding as of December 31, 2023 is $848,100.

Finding Details

Finding 2023-002
FINDING No. 2023-002: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: Escrow accounts. Sample Size Information: Escrow accounts. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by the regulatory agreement, the Project is required to pay, when due, all taxes, assessments, and other charges. Statement of Condition: The Project is deficient in funding escrow deposits in the amount of $22,634. Cause: The Project did not properly fund the escrow accounts based on current period insurance premiums and tax rates. Effect or Potential Effect: The escrow deposits are not sufficient to meet future obligations. Auditor Non-Compliance Code: Z - Other Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should make sufficient monthly deposits to the escrow accounts in a timely manner. Respon se Indicator: Agree. Completion Date: 12/31/2024 Response: RCOA has taken out as policy for the Project with Forth Insurance company, an initial down payment was furnished, and additional sequential payment has been furnished to the policy. Proof of policy can be furnished if required.
Finding 2023-001
FINDING No. 2023-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: Fifteen tenants. Sample Size Information: Three tenants. Identification of Repeat Finding and Finding Reference Number: No. Criteria: HUD regulation requires annual unit inspections performed in a timely manner and the corresponding documentation maintained. Statement of Condition: The Project did not perform annual unit inspections for one tenant due to safety precautions taken in regard to the coronavirus. Cause: The Project did not conduct the annual unit inspections due to the coronavirus pandemic. Effect or Potential Effect: Unable to determine and assess whether the property has sustained any damages that require repairs. Auditor Non-Compliance Code: R - Section 8 Program Administration Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should perform annual unit inspections and maintain all required tenant documentation. Response Indicator: Agree. Completion Date: 12/31/2024 Response: Rapides Council on Aging has taken over the management of this Project. We have implemented quarterly unit inspections of the occupied units. We have also implemented inspection of the units before a resident move in and after the resident has moved out of the units. All records of the inspections are filed in the project manager’s office.
Finding 2023-002
FINDING No. 2023-002: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: Escrow accounts. Sample Size Information: Escrow accounts. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by the regulatory agreement, the Project is required to pay, when due, all taxes, assessments, and other charges. Statement of Condition: The Project is deficient in funding escrow deposits in the amount of $22,634. Cause: The Project did not properly fund the escrow accounts based on current period insurance premiums and tax rates. Effect or Potential Effect: The escrow deposits are not sufficient to meet future obligations. Auditor Non-Compliance Code: Z - Other Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should make sufficient monthly deposits to the escrow accounts in a timely manner. Respon se Indicator: Agree. Completion Date: 12/31/2024 Response: RCOA has taken out as policy for the Project with Forth Insurance company, an initial down payment was furnished, and additional sequential payment has been furnished to the policy. Proof of policy can be furnished if required.
Finding 2023-001
FINDING No. 2023-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: Fifteen tenants. Sample Size Information: Three tenants. Identification of Repeat Finding and Finding Reference Number: No. Criteria: HUD regulation requires annual unit inspections performed in a timely manner and the corresponding documentation maintained. Statement of Condition: The Project did not perform annual unit inspections for one tenant due to safety precautions taken in regard to the coronavirus. Cause: The Project did not conduct the annual unit inspections due to the coronavirus pandemic. Effect or Potential Effect: Unable to determine and assess whether the property has sustained any damages that require repairs. Auditor Non-Compliance Code: R - Section 8 Program Administration Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should perform annual unit inspections and maintain all required tenant documentation. Response Indicator: Agree. Completion Date: 12/31/2024 Response: Rapides Council on Aging has taken over the management of this Project. We have implemented quarterly unit inspections of the occupied units. We have also implemented inspection of the units before a resident move in and after the resident has moved out of the units. All records of the inspections are filed in the project manager’s office.