FAC Explorer

Audit 323673

FY End
2024-06-30
Total Expended
$874,905
Findings
6
Programs
2
Organization: Neary Lagoon Senior Housing, Inc. (CA)
Year: 2024 Accepted: 2024-10-02
Auditor: Maddox & Associates Apc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
501644 2024-001 - - H
501645 2024-002 - - B
501646 2024-003 - - C
1078086 2024-001 - - H
1078087 2024-002 - - B
1078088 2024-003 - - C

Programs

ALN Program Spent Major Findings
14.195 Section 8 Housing Assistance Payments Program $779,681 Yes 3
14.182 Section 8 New Construction and Substantial Rehabilitation $95,224 - 0

Contacts

Name Title Type
NNW1AGQF3WM5 Wendy Chan Auditee
5106326712 Jeff Maddox Auditor
No contacts on file

Notes to SEFA

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. The Project has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Project has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
THE PROJECT MADE UNAUTHORIZED PAYMENTS OF OWNER ADVANCES IN THE AMOUNT OF $121,371.
Finding 2024-002
SURPLUS CASH WAS NOT DEPOSITED INTO THE RESIDUAL RECEIPTS ACCOUNT WITHIN 90 DAYS.
Finding 2024-003
THE PROJECT DID NOT OFFSET THE MONTHLY SECTION 8 HOUSING ASSISTANCE PAYMENTS.
Finding 2024-001
THE PROJECT MADE UNAUTHORIZED PAYMENTS OF OWNER ADVANCES IN THE AMOUNT OF $121,371.
Finding 2024-002
SURPLUS CASH WAS NOT DEPOSITED INTO THE RESIDUAL RECEIPTS ACCOUNT WITHIN 90 DAYS.
Finding 2024-003
THE PROJECT DID NOT OFFSET THE MONTHLY SECTION 8 HOUSING ASSISTANCE PAYMENTS.