FAC Explorer

Audit 323048

FY End
2023-12-31
Total Expended
$6.34M
Findings
4
Programs
1
Organization: Boone County Senior Citizen Services Corporation (MO)
Year: 2023 Accepted: 2024-09-30
Auditor: Kpm CPAS PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
500268 2023-001 Significant Deficiency - N
500269 2023-002 Significant Deficiency - AB
1076710 2023-001 Significant Deficiency - N
1076711 2023-002 Significant Deficiency - AB

Programs

ALN Program Spent Major Findings
14.129 Mortgage Insurance Nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities $6.34M Yes 2

Contacts

Name Title Type
QFAQNRZLMNX5 Julia Fairchild Auditee
5734426060 Barbara Houser 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: The Bluffs 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 activity of Boone County Senior Citizen Services Corporation DBA The Bluffs, HUD Project Number 085-43094, 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of The Bluffs, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Bluffs.
Title: Subrecipients 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: The Bluffs has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Bluffs did not provide federal awards to sub-recipients during the year ended December 31, 2023.
Title: Loan Program 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: The Bluffs has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Bluffs has received a U.S. Department of Housing and Urban Development direct loan under Section 232-223(f) of the National Housing Act. The loan balance outstanding at the beginning of the period is included in the federal expenditures presented in the Schedule. The Bluffs received no additional loans during the period. The balance of the loan outstanding at December 31, 2023 is $6,081,350.

Finding Details

Finding 2023-001
Criteria: HUD Handbook 4370.2, Financial Operations and Accounting Procedures for Insured Multifamily Projects, states that the regulatory agreement required that all surplus cash available at the end of the annual fiscal period to be deposited in the residual receipts account within 60 days after the end of the fiscal year.Condition: Prior year surplus cash was not deposited into the residual receipts account on a timely basis. Questioned Costs: $0Cause: Boone County Senior Citizen Services Corporation DBA The Bluffs was aware of the requirement but management oversight resulted in the failure to separately deposit these funds.Effect: Surplus cash deposits into the residual receipts account were delinquent in accordance with HUD requirements. Recommendation: We recommend Boone County Senior Citizen Services Corporation DBA The Bluffs establish procedures to ensure that required deposits of surplus cash are made on a timely basis after the calendar year end.Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding and made the required deposit in October 2023. Management is in process of incorporating procedures to ensure that all required surplus cash deposits are made timely in the future. There was no required deposit for calendar year 2023.
Finding 2023-002
Criteria: Uniform Guidance requires written procedures for cash management and determining the allowability of costs in accordance with Subpart E – Cost Principals. Condition: Boone County Senior Citizen Services Corporation DBA The Bluffs did not have written procedures for cash management (2 CFR 200.302(b)(6)) and allowable costs determination (2 CFR 200.302(b)(7)) in accordance with Uniform Guidance requirements. Questioned Costs: $0Cause: Boone County Senior Citizen Services Corporation DBA The Bluffs’ written policies and procedures were not updated to include required Uniform Guidance policies.Effect: Boone County Senior Citizen Services Corporation DBA The Bluffs could enter into a transaction that is not in compliance with Uniform Guidance requirements. Recommendation: We recommend Boone County Senior Citizen Services Corporation DBA The Bluffs draft and adopt written procedures in accordance with Uniform Guidance requirements.Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding and is in process of developing and implementing the appropriate policies and procedures.
Finding 2023-001
Criteria: HUD Handbook 4370.2, Financial Operations and Accounting Procedures for Insured Multifamily Projects, states that the regulatory agreement required that all surplus cash available at the end of the annual fiscal period to be deposited in the residual receipts account within 60 days after the end of the fiscal year.Condition: Prior year surplus cash was not deposited into the residual receipts account on a timely basis. Questioned Costs: $0Cause: Boone County Senior Citizen Services Corporation DBA The Bluffs was aware of the requirement but management oversight resulted in the failure to separately deposit these funds.Effect: Surplus cash deposits into the residual receipts account were delinquent in accordance with HUD requirements. Recommendation: We recommend Boone County Senior Citizen Services Corporation DBA The Bluffs establish procedures to ensure that required deposits of surplus cash are made on a timely basis after the calendar year end.Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding and made the required deposit in October 2023. Management is in process of incorporating procedures to ensure that all required surplus cash deposits are made timely in the future. There was no required deposit for calendar year 2023.
Finding 2023-002
Criteria: Uniform Guidance requires written procedures for cash management and determining the allowability of costs in accordance with Subpart E – Cost Principals. Condition: Boone County Senior Citizen Services Corporation DBA The Bluffs did not have written procedures for cash management (2 CFR 200.302(b)(6)) and allowable costs determination (2 CFR 200.302(b)(7)) in accordance with Uniform Guidance requirements. Questioned Costs: $0Cause: Boone County Senior Citizen Services Corporation DBA The Bluffs’ written policies and procedures were not updated to include required Uniform Guidance policies.Effect: Boone County Senior Citizen Services Corporation DBA The Bluffs could enter into a transaction that is not in compliance with Uniform Guidance requirements. Recommendation: We recommend Boone County Senior Citizen Services Corporation DBA The Bluffs draft and adopt written procedures in accordance with Uniform Guidance requirements.Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding and is in process of developing and implementing the appropriate policies and procedures.