FAC Explorer

Audit 325673

FY End
2024-03-31
Total Expended
$4.26M
Findings
2
Programs
3
Organization: Barre Housing Authority (VT)
Year: 2024 Accepted: 2024-10-23
Auditor: Marcum LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
503539 2024-001 Material Weakness - I
1079981 2024-001 Material Weakness - I

Programs

ALN Program Spent Major Findings
14.850 Public Housing Operating Fund $1.69M Yes 1
14.872 Public Housing Capital Fund $1.60M Yes 0
14.871 Section 8 Housing Choice Vouchers $959,562 - 0

Contacts

Name Title Type
CU5FDALV6NW3 Jaime Chioldi Auditee
8024763185 Michael Guyder Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 – BASIS OF PRESENTATION Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Barre Housing Authority, under programs of the federal government for the year ended March 31, 2024. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Barre Housing Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Barre Housing Authority. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, 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. For performance-based awards, expenditures reported represent amounts earned. De Minimis Rate Used: N Rate Explanation: The Barre Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Barre Housing Authority, under programs of the federal government for the year ended March 31, 2024. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Barre Housing Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Barre Housing Authority.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Barre Housing Authority, under programs of the federal government for the year ended March 31, 2024. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Barre Housing Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Barre Housing Authority. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, 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. For performance-based awards, expenditures reported represent amounts earned. De Minimis Rate Used: N Rate Explanation: The Barre Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Expenditures reported on the schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, 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. For performance-based awards, expenditures reported represent amounts earned.
Title: NOTE 3 – INDIRECT COST RATE Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Barre Housing Authority, under programs of the federal government for the year ended March 31, 2024. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Barre Housing Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Barre Housing Authority. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, 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. For performance-based awards, expenditures reported represent amounts earned. De Minimis Rate Used: N Rate Explanation: The Barre Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Barre Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
2024-001 – PROCUREMENT, SUSPENSION, AND DEBARMENT Material Weakness/Material Noncompliance U.S. Department of Housing and Urban Development CFDA #: 14.850 – Public and Indian Housing CRITERIA Any small purchase or contract, greater than $10,000 ($2,000 if Davis-Bacon rules apply) but not exceeding $50,000, may be made in accordance with the small purchase procedures outlined in this section. BHA Staff seeking prospective purchase, to be funded within the current year’s operating or capital budget they manage, should solicit a minimum of two price quotes, oral or written, if available from prospective contractors, through a competitive Request for Proposal (RFP) process by phone, fax or email. Results of this process, including bid selection recommendation and related justification are then presented to the CO who will make the award to the entity with the lowest acceptable bid and/or greatest value. CONDITION We identified 2 instances in which sufficient documentation was not maintained to support the procurement of the vendor. CAUSE Documentation of procurement decisions was not sufficiently maintained. EFFECT The Authority has not ensured that it is receiving the most competitive prices or rates for services that have been procured, which may have resulted in unnecessary additional costs to the Authority. QUESTIONED COSTS Known Questioned Costs - $98,518 representing the aggregate payments to these two vendors. CONTEXT All purchases are required to be made within the Authority’s procurement policy. There were approximately 27 vendors paid in excess of the micro purchase threshold. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority develop and implement sufficient policies and procedures which provides for compliance with the Procurement, Suspension, and Debarment requirements of the Uniform Guidance. AUDITEE’S RESPONSE AND PLANNED CORRECTIVE ACTION See Corrective Action Plan.
Finding 2024-001
2024-001 – PROCUREMENT, SUSPENSION, AND DEBARMENT Material Weakness/Material Noncompliance U.S. Department of Housing and Urban Development CFDA #: 14.850 – Public and Indian Housing CRITERIA Any small purchase or contract, greater than $10,000 ($2,000 if Davis-Bacon rules apply) but not exceeding $50,000, may be made in accordance with the small purchase procedures outlined in this section. BHA Staff seeking prospective purchase, to be funded within the current year’s operating or capital budget they manage, should solicit a minimum of two price quotes, oral or written, if available from prospective contractors, through a competitive Request for Proposal (RFP) process by phone, fax or email. Results of this process, including bid selection recommendation and related justification are then presented to the CO who will make the award to the entity with the lowest acceptable bid and/or greatest value. CONDITION We identified 2 instances in which sufficient documentation was not maintained to support the procurement of the vendor. CAUSE Documentation of procurement decisions was not sufficiently maintained. EFFECT The Authority has not ensured that it is receiving the most competitive prices or rates for services that have been procured, which may have resulted in unnecessary additional costs to the Authority. QUESTIONED COSTS Known Questioned Costs - $98,518 representing the aggregate payments to these two vendors. CONTEXT All purchases are required to be made within the Authority’s procurement policy. There were approximately 27 vendors paid in excess of the micro purchase threshold. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority develop and implement sufficient policies and procedures which provides for compliance with the Procurement, Suspension, and Debarment requirements of the Uniform Guidance. AUDITEE’S RESPONSE AND PLANNED CORRECTIVE ACTION See Corrective Action Plan.