FAC Explorer

Audit 33063

FY End
2022-12-31
Total Expended
$1.79M
Findings
2
Programs
2
Organization: Canaan Manor Dayton (LA)
Year: 2022 Accepted: 2023-09-06
Auditor: Wharton CPA LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
34200 2022-001 Significant Deficiency Yes N
610642 2022-001 Significant Deficiency Yes N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $1.65M Yes 1
14.195 Section 8 Housing Assistance Payments Program $141,363 - 0

Contacts

Name Title Type
J1LQVU9M4N83 Dr. Willie Gable Auditee
5045245471 Brendel Wharton Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note 1 Summary of Significant Accounting PoliciesBasis of Presentation - This schedule includes the activity of NBC-USA Housing, Inc., Canaan ManorDayton and is presented on the accrual basis of accounting. The information in this schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance).Indirect Cost Rate Canaan Manor Dayton did not use the de minimis cost rate.Loan/Loan Guarantee Outstanding Balance - Supportive Housing for the Persons with Disabilities Capital Advance - The balance outstanding at the end of the audit period was $1,645,300. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1645300.

Finding Details

Finding 2022-001
2022-1 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts, nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Cause: The cause is undeterminable. Effect: Residual receipts balance is $17,459 as of December 31, 2022. The allowable balance is $5,250 ($250 X 21 units), resulting in excess residual receipts of $12,209. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.
Finding 2022-001
2022-1 Excess Residual Receipts Condition: The Project did not prepare a HUD 9250 to remit excess residual receipts, nor did it mail a check or transmit a wire of those funds. Criteria: According to the Consolidated Appropriations Act, 2017, owners subject to a Section 202 or 811 Project Rental Assistance Contract (PRAC) are required to remit any excess balance in a Residual Receipts account, greater than $250 per unit, to HUD?s Accounting Center upon termination or renewal of the PRAC contract. Cause: The cause is undeterminable. Effect: Residual receipts balance is $17,459 as of December 31, 2022. The allowable balance is $5,250 ($250 X 21 units), resulting in excess residual receipts of $12,209. Recommendation: I recommend the Property prepare the HUD 9250 requesting to remit excess funds to HUD.