FAC Explorer

Audit 330617

FY End
2024-06-30
Total Expended
$859,774
Findings
4
Programs
1
Organization: Collins' Way, Inc. (MD)
Year: 2024 Accepted: 2024-12-03
Auditor: Cliftonlarsonallen

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
512852 2024-001 Significant Deficiency - N
512853 2024-001 Significant Deficiency - N
1089294 2024-001 Significant Deficiency - N
1089295 2024-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $18,447 Yes 1

Contacts

Name Title Type
FBJEGJQGMZT6 Thomas Evans Auditee
3016638811 Ken Saggese Auditor
No contacts on file

Notes to SEFA

Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Collins Way, Inc. under programs of the federal government for the year ended June 30, 2024. 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 Collins Way, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Collins Way, Inc. SUMMARY OF SIGNIFICANT 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: Collins Way, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Federal Agency: Department of Housing and Urban Development Federal Program Name: Supportive Housing for Persons with Disabilities Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control Condition: The required contributions to the replacement reserve were underfunded by $316. Criteria: The Project is required to make contributions to the replacement reserve in accordance with HUD instructions. Effect: The effect is that the entity is out of compliance as not all 12 payments required by HUD were made. Cause: The Project’s internal control system did not identify timely that the monthly transfer was not made. Questioned Cost: $0.00 Context: 11 out of 12 payments were made timely and accurately. March 2024 was missing a deposit for $315.75. Repeat Finding: No. Recommendation: Remit the underfunded amount immediately. Views of Responsible Officials and Corrective Action Plan: Funds will be remitted immediately.
Finding 2024-001
Federal Agency: Department of Housing and Urban Development Federal Program Name: Supportive Housing for Persons with Disabilities Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control Condition: The required contributions to the replacement reserve were underfunded by $316. Criteria: The Project is required to make contributions to the replacement reserve in accordance with HUD instructions. Effect: The effect is that the entity is out of compliance as not all 12 payments required by HUD were made. Cause: The Project’s internal control system did not identify timely that the monthly transfer was not made. Questioned Cost: $0.00 Context: 11 out of 12 payments were made timely and accurately. March 2024 was missing a deposit for $315.75. Repeat Finding: No. Recommendation: Remit the underfunded amount immediately. Views of Responsible Officials and Corrective Action Plan: Funds will be remitted immediately.
Finding 2024-001
Federal Agency: Department of Housing and Urban Development Federal Program Name: Supportive Housing for Persons with Disabilities Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control Condition: The required contributions to the replacement reserve were underfunded by $316. Criteria: The Project is required to make contributions to the replacement reserve in accordance with HUD instructions. Effect: The effect is that the entity is out of compliance as not all 12 payments required by HUD were made. Cause: The Project’s internal control system did not identify timely that the monthly transfer was not made. Questioned Cost: $0.00 Context: 11 out of 12 payments were made timely and accurately. March 2024 was missing a deposit for $315.75. Repeat Finding: No. Recommendation: Remit the underfunded amount immediately. Views of Responsible Officials and Corrective Action Plan: Funds will be remitted immediately.
Finding 2024-001
Federal Agency: Department of Housing and Urban Development Federal Program Name: Supportive Housing for Persons with Disabilities Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control Condition: The required contributions to the replacement reserve were underfunded by $316. Criteria: The Project is required to make contributions to the replacement reserve in accordance with HUD instructions. Effect: The effect is that the entity is out of compliance as not all 12 payments required by HUD were made. Cause: The Project’s internal control system did not identify timely that the monthly transfer was not made. Questioned Cost: $0.00 Context: 11 out of 12 payments were made timely and accurately. March 2024 was missing a deposit for $315.75. Repeat Finding: No. Recommendation: Remit the underfunded amount immediately. Views of Responsible Officials and Corrective Action Plan: Funds will be remitted immediately.