FAC Explorer

Audit 334625

FY End
2024-06-30
Total Expended
$1.56M
Findings
4
Programs
1
Organization: Wood County Village Ii, Inc. (OH)
Year: 2024 Accepted: 2024-12-23
Auditor: Gbq Partners LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
516652 2024-001 Material Weakness - N
516653 2024-002 Significant Deficiency Yes N
1093094 2024-001 Material Weakness - N
1093095 2024-002 Significant Deficiency Yes N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $1.52M Yes 0

Contacts

Name Title Type
NKJLBKADCZA5 Christine Gladieux Auditee
4192974149 Lyndi Sheets Auditor
No contacts on file

Notes to SEFA

Title: Significant Accounting Policies Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) reports the Wood County Village II, Inc.’s (the Project’s) federal award programs’ disbursements. 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). The schedule has been prepared on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has not elected to use the 10- percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization has not elected to use the 10- percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) reports the Wood County Village II, Inc.’s (the Project’s) federal award programs’ disbursements. 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). The schedule has been prepared on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has not elected to use the 10- percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Supportive Housing for Persons with Disabilities (Section 811) - Assistance Listing 14.181; Grant period - Year ended June 30, 2024 Material Noncompliance with Program Requirements Material Weakness Over Compliance: Program Administration Statement of Condition: The Project did not request tenant assistance payments for the month of April. Criteria: The Regulatory Agreement requires the Project to ensure controls exist to request the appropriate funds for each tenant on a monthly basis. Cause of Condition: The Project’s controls over monthly housing assistance payments were not working properly due to lack of management oversight due to turnover during the year. Effect of Condition: The Project is not in compliance with the HUD approved Regulatory Agreement. Questioned Costs: None Identification of Repeat Finding: Not Applicable Recommendation: We recommend that the Project’s sponsor review the design and implementation of internal control procedures and identify areas to strengthen management oversight. Management’s Response: The Project’s sponsor agrees with the recommendations. See Corrective Action Plan.
Finding 2024-002
Supportive Housing for Persons with Disabilities (Section 811) - Assistance Listing 14.181; Grant period - Year ended June 30, 2024 Material Noncompliance with Program Requirements Significant Deficiency Over Compliance: Special Tests and Provisions Statement of Condition: Security deposits assets collected from eligible families and the corresponding liability recorded, did not equal. Criteria: The HUD Handbook 4350.3 Occupancy Requirements of Subsidized Multifamily Housing Programs requires that the owner must place bearing-account security deposits in a segregated, interest bearing-account, the balance of which must at all times be equal to the total amount collected from the eligible family plus any accrued interest. Cause of Condition: The Project experienced a fire in June 2024 that caused a lapse in assigned responsibility for the reconciliation and transfer of security deposits. Effect of Condition: The Project is not in compliance with the HUD Handbook. Questioned Costs: None Identification of Repeat Finding: 2023-001 Recommendation: We recommend that the Project’s sponsor verify, on a monthly basis, the required security deposit asset and liability account equal. Management’s Response: The Project’s sponsor agrees with the recommendations. See Corrective Action Plan.
Finding 2024-001
Supportive Housing for Persons with Disabilities (Section 811) - Assistance Listing 14.181; Grant period - Year ended June 30, 2024 Material Noncompliance with Program Requirements Material Weakness Over Compliance: Program Administration Statement of Condition: The Project did not request tenant assistance payments for the month of April. Criteria: The Regulatory Agreement requires the Project to ensure controls exist to request the appropriate funds for each tenant on a monthly basis. Cause of Condition: The Project’s controls over monthly housing assistance payments were not working properly due to lack of management oversight due to turnover during the year. Effect of Condition: The Project is not in compliance with the HUD approved Regulatory Agreement. Questioned Costs: None Identification of Repeat Finding: Not Applicable Recommendation: We recommend that the Project’s sponsor review the design and implementation of internal control procedures and identify areas to strengthen management oversight. Management’s Response: The Project’s sponsor agrees with the recommendations. See Corrective Action Plan.
Finding 2024-002
Supportive Housing for Persons with Disabilities (Section 811) - Assistance Listing 14.181; Grant period - Year ended June 30, 2024 Material Noncompliance with Program Requirements Significant Deficiency Over Compliance: Special Tests and Provisions Statement of Condition: Security deposits assets collected from eligible families and the corresponding liability recorded, did not equal. Criteria: The HUD Handbook 4350.3 Occupancy Requirements of Subsidized Multifamily Housing Programs requires that the owner must place bearing-account security deposits in a segregated, interest bearing-account, the balance of which must at all times be equal to the total amount collected from the eligible family plus any accrued interest. Cause of Condition: The Project experienced a fire in June 2024 that caused a lapse in assigned responsibility for the reconciliation and transfer of security deposits. Effect of Condition: The Project is not in compliance with the HUD Handbook. Questioned Costs: None Identification of Repeat Finding: 2023-001 Recommendation: We recommend that the Project’s sponsor verify, on a monthly basis, the required security deposit asset and liability account equal. Management’s Response: The Project’s sponsor agrees with the recommendations. See Corrective Action Plan.