FAC Explorer

Audit 333788

FY End
2024-06-30
Total Expended
$1.27M
Findings
2
Programs
1
Organization: Fairview Housing (WA)
Year: 2024 Accepted: 2024-12-19
Auditor: Rf Company Cpa's P S

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
515977 2024-001 Significant Deficiency - N
1092419 2024-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $1.27M Yes 1

Contacts

Name Title Type
ZPV4QUTX4TJ4 Thomas E. Anderson Auditee
3603309044 Jared Postlethwaite, CPA Auditor
No contacts on file

Notes to SEFA

Title: NOTE D. PASSED-THROUGH SUBRECIPIENTS Accounting Policies: NOTE A. BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Fairview Housing 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 Fairview Housing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Fairview Housing. NOTE B. 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: Fairview Housing has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended June 30, 2024, there were no awards passed through to subrecipients.
Title: NOTE E. CAPITAL ADVANCE Accounting Policies: NOTE A. BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Fairview Housing 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 Fairview Housing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Fairview Housing. NOTE B. 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: Fairview Housing has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Under the HUD Section 202 Capital Advance Mortgage Note (the Note), Fairview Housing received an advance for the construction of the Project. The Note bears no interest and is not required to be repaid as long as the housing remains available to eligible households through June 1, 2038. At June 30, 2024, $1,182,000 is outstanding.

Finding Details

Finding 2024-001
S3800-010 Finding Reference Number 2024-001 S3800-011 Title and Assistance Listing Number of Federal Program U.S. Department of Housing and Urban Development Supportive Housing for the Elderly; PRAC and Capital Advance, 14.157 S3800-015 Type of Finding Federal Award Finding S3800-016 Finding Resolution Status In Process S3800-017 Information on Universe Population Size N/A S3800-018 Sample Size Information N/A S3800-019 Identification of Repeat Finding and Reference Number NoS3800-020 Criteria The Organization must comply with HUD guidelines regarding residual receipts deposits. S3800-030 Statement of Condition The Organization failed to make the required residual receipts deposit for the year ended June 30, 2023. S3800-032 Cause Staff training. S3800-033 Effect or Potential Effect The Organization was not in compliance with HUD guidelines for residual receipt deposits. S3800-035 Auditor Non-Compliance Code S3800-040 Questioned Costs $4,676 S3800-045 Reporting Views of Responsible Officials Management agrees with the findings, and funds will be included in current year surplus cash calculation and resulting residual receipts deposit calculation. S3800-037 FHA/Contract Number 171EE009 S3800-038 Questioned Costs $4,676 S3800-080 Recommendation Management should have procedures in place to ensure the timely deposit to the residual receipts account. S3800-090 Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations Funds will be included in the residual receipts deposit for the current year. S3800-130 Response Indicator Agree S3800-140 Completion Date 09/30/2024 S3800-150 Response Management agrees with the findings, and funds will be included in current year surplus cash calculation and resulting residual receipts deposit calculation. S3800-160 Contact Person First Name Thomas S3800-170 Contact Person Middle Initial E. S3800-180 Contact Person Last Name Anderson
Finding 2024-001
S3800-010 Finding Reference Number 2024-001 S3800-011 Title and Assistance Listing Number of Federal Program U.S. Department of Housing and Urban Development Supportive Housing for the Elderly; PRAC and Capital Advance, 14.157 S3800-015 Type of Finding Federal Award Finding S3800-016 Finding Resolution Status In Process S3800-017 Information on Universe Population Size N/A S3800-018 Sample Size Information N/A S3800-019 Identification of Repeat Finding and Reference Number NoS3800-020 Criteria The Organization must comply with HUD guidelines regarding residual receipts deposits. S3800-030 Statement of Condition The Organization failed to make the required residual receipts deposit for the year ended June 30, 2023. S3800-032 Cause Staff training. S3800-033 Effect or Potential Effect The Organization was not in compliance with HUD guidelines for residual receipt deposits. S3800-035 Auditor Non-Compliance Code S3800-040 Questioned Costs $4,676 S3800-045 Reporting Views of Responsible Officials Management agrees with the findings, and funds will be included in current year surplus cash calculation and resulting residual receipts deposit calculation. S3800-037 FHA/Contract Number 171EE009 S3800-038 Questioned Costs $4,676 S3800-080 Recommendation Management should have procedures in place to ensure the timely deposit to the residual receipts account. S3800-090 Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations Funds will be included in the residual receipts deposit for the current year. S3800-130 Response Indicator Agree S3800-140 Completion Date 09/30/2024 S3800-150 Response Management agrees with the findings, and funds will be included in current year surplus cash calculation and resulting residual receipts deposit calculation. S3800-160 Contact Person First Name Thomas S3800-170 Contact Person Middle Initial E. S3800-180 Contact Person Last Name Anderson