FAC Explorer

Audit 332636

FY End
2024-09-30
Total Expended
$2.76M
Findings
2
Programs
1
Organization: Ncr of Marion, Arkansas D/b/a Ingram Court 082-Ee050-Np-L8 (OH)
Year: 2024 Accepted: 2024-12-16
Auditor: Plante & Moran PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
514354 2024-001 - - A
1090796 2024-001 - - A

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $206,710 Yes 0

Contacts

Name Title Type
CLH4C6DDKJ28 Jill Kolb Auditee
6144512151 Kelly Perlman Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Corporation and is presented on the same basis of accounting as the financial statements. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the "Uniform Guidance"). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2024-001
Finding Type: Immaterial noncompliance with major program requirements Title and Assistance Listing Number of Federal Program - 14.157 Supportive Housing for the Elderly (Section 202) - Capital Advance Finding Resolution Status - Resolved Information on Universe and Population Size - All replacement reserve withdrawals were audited. Sample Size Information - All replacement reserve withdrawals were audited. Identification of Repeat Finding and Finding Reference Number - n/a Criteria - The Corporation should have HUD authorization for all withdrawals from the replacement reserve account as required by the regulatory agreement. Statement of Condition - Withdrawals totaling $29,969 were made from the replacement reserve without HUD authorization due to a duplication of withdrawals. Cause - The Corporation requested a withdraw in the amount of $29,969 twice from the replacement reserve. Effect or Potential Effect - The unauthorized withdrawals caused the replacement reserve account to be underfunded at year end by $29,969. Auditor Noncompliance Code - A - Unauthorized withdrawals from replacement reserve account Reporting Views of Responsible Officials - Management agrees with the underfunded amount at September 30, 2024. Context - The replacement reserve withdrawal was erroneously withdrawn twice. The Corporation identified the error prior to audit and corrected the underfunding. Recommendation - The Corporation should make a deposit to correct underfunding of replacement reserve account in the amount $29,969. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management should obtain approval from HUD prior to withdrawing funds from the replacement reserve. Response Indicator - Agree Completion Date - October 17, 2024
Finding 2024-001
Finding Type: Immaterial noncompliance with major program requirements Title and Assistance Listing Number of Federal Program - 14.157 Supportive Housing for the Elderly (Section 202) - Capital Advance Finding Resolution Status - Resolved Information on Universe and Population Size - All replacement reserve withdrawals were audited. Sample Size Information - All replacement reserve withdrawals were audited. Identification of Repeat Finding and Finding Reference Number - n/a Criteria - The Corporation should have HUD authorization for all withdrawals from the replacement reserve account as required by the regulatory agreement. Statement of Condition - Withdrawals totaling $29,969 were made from the replacement reserve without HUD authorization due to a duplication of withdrawals. Cause - The Corporation requested a withdraw in the amount of $29,969 twice from the replacement reserve. Effect or Potential Effect - The unauthorized withdrawals caused the replacement reserve account to be underfunded at year end by $29,969. Auditor Noncompliance Code - A - Unauthorized withdrawals from replacement reserve account Reporting Views of Responsible Officials - Management agrees with the underfunded amount at September 30, 2024. Context - The replacement reserve withdrawal was erroneously withdrawn twice. The Corporation identified the error prior to audit and corrected the underfunding. Recommendation - The Corporation should make a deposit to correct underfunding of replacement reserve account in the amount $29,969. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - Management should obtain approval from HUD prior to withdrawing funds from the replacement reserve. Response Indicator - Agree Completion Date - October 17, 2024