FAC Explorer

Audit 325686

FY End
2024-06-30
Total Expended
$1.05M
Findings
2
Programs
1
Organization: Les Petite Maisons, Inc. (LA)
Year: 2024 Accepted: 2024-10-23
Auditor: Darnall Sikes & Frederick

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
503540 2024-002 - - P
1079982 2024-002 - - P

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $54,348 Yes 0

Contacts

Name Title Type
G1P3LFEFBJ72 Adrienne Melancon Auditee
3372625990 Steven Moosa Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of Expenditures of Federal Awards has been prepared on the accrualbasis of accounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in preparationof, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Balances outstanding at the end of the audit period were $996,800

Finding Details

Finding 2024-002
2024-002 Security Deposit Liability Exceeds Security Deposit Cash Account Condition: The Project’s tenant’s security deposit liabilities exceed the amount of cash held in the security deposit account. Criteria: The Project is required to maintain a security deposit account that must at all times equal or exceed the aggregate of all outstanding obligations to tenants for refundable security deposits. Cause: Bank service charges totaling $180 were charged to the security deposit account causing the balance in the account to fall below its outstanding obligations. Effect: Noncompliance with requirements impose a risk of penalties and fines assessed by HUD. Recommendation: The Project should obtain banking accounts that do not assess monthly charges. The Project should also monitor the account to ensure that the security deposit account at all times equals or exceeds the aggregate of all outstanding obligations to tenants for refundable security deposits.
Finding 2024-002
2024-002 Security Deposit Liability Exceeds Security Deposit Cash Account Condition: The Project’s tenant’s security deposit liabilities exceed the amount of cash held in the security deposit account. Criteria: The Project is required to maintain a security deposit account that must at all times equal or exceed the aggregate of all outstanding obligations to tenants for refundable security deposits. Cause: Bank service charges totaling $180 were charged to the security deposit account causing the balance in the account to fall below its outstanding obligations. Effect: Noncompliance with requirements impose a risk of penalties and fines assessed by HUD. Recommendation: The Project should obtain banking accounts that do not assess monthly charges. The Project should also monitor the account to ensure that the security deposit account at all times equals or exceeds the aggregate of all outstanding obligations to tenants for refundable security deposits.