FAC Explorer

Audit 335257

FY End
2023-09-30
Total Expended
$25.26M
Findings
4
Programs
6
Organization: Housing Authority of the County of Butte (CA)
Year: 2023 Accepted: 2024-12-31
Auditor: Bowman & Company LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
517240 2023-001 Material Weakness Yes P
517241 2023-002 Significant Deficiency - L
1093682 2023-001 Material Weakness Yes P
1093683 2023-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
10.405 Farm Labor Housing Loans and Grants $3.00M - 0
14.850 Public Housing Operating Fund $1.32M - 0
14.871 Section 8 Housing Choice Vouchers $1.14M Yes 0
10.427 Rural Rental Assistance Payments $635,515 - 0
14.872 Public Housing Capital Fund $366,207 - 0
14.870 Resident Opportunity and Supportive Services - Service Coordinators $86,963 - 0

Contacts

Name Title Type
PJNKVSTERUN6 Hope Stone Auditee
5308954474 Tobbie J Wells Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the accompanying schedule are reported on the accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements of the federal program. 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: The Authority has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The schedule of expenditures of federal awards includes the federal grant activity of the Authority under programs of the federal government for the year ended September 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, 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 the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.

Finding Details

Finding 2023-001
Statement of condition: The account balances of cash and cash equivalents, investments, prepaid expenses, accounts receivable, inventory, capital assets, accounts payable, other current liabilities, accrued OPEB, accrued pension liability and long-term debt were misstated. In addition, there were numerous journal entries proposed during the audit. Criteria: The Authority must ensure that proper internal controls are in place to initiate, authorize, record, process and report financial data reliability in accordance with generally accepted accounting principles. Condition: There is a reasonable possibility that a misstatement of the Authority's financial statements will not be prevented or detected by the Authority's internal control. Cause: Controls are not in place to ensure the Authority records and reports financial data reliably in accordance with generally accepted accounting principles.
Finding 2023-002
Statement of condition: The September 30, 2023 audit report was not submitted on or before its deadline. Criteria: Code of Federal Regulations (CFR), Title 2, Part 300 Section 200.512(a)(l) requires Single Audit reports to be submitted within the earlier of 30 days after receipt of the audit by the agency, or nine months after the end of the audit period. Cause: The delay in submitting the report was due to a lack of adequate internal controls to monitor the audit progress and ensure timely submission. Effect: The Single Audit reporting package was not submitted to the Federal Audit Clearinghouse by the federally required deadline. Non-compliance with the reporting requirements is a violation of federal grants' terms and conditions.
Finding 2023-001
Statement of condition: The account balances of cash and cash equivalents, investments, prepaid expenses, accounts receivable, inventory, capital assets, accounts payable, other current liabilities, accrued OPEB, accrued pension liability and long-term debt were misstated. In addition, there were numerous journal entries proposed during the audit. Criteria: The Authority must ensure that proper internal controls are in place to initiate, authorize, record, process and report financial data reliability in accordance with generally accepted accounting principles. Condition: There is a reasonable possibility that a misstatement of the Authority's financial statements will not be prevented or detected by the Authority's internal control. Cause: Controls are not in place to ensure the Authority records and reports financial data reliably in accordance with generally accepted accounting principles.
Finding 2023-002
Statement of condition: The September 30, 2023 audit report was not submitted on or before its deadline. Criteria: Code of Federal Regulations (CFR), Title 2, Part 300 Section 200.512(a)(l) requires Single Audit reports to be submitted within the earlier of 30 days after receipt of the audit by the agency, or nine months after the end of the audit period. Cause: The delay in submitting the report was due to a lack of adequate internal controls to monitor the audit progress and ensure timely submission. Effect: The Single Audit reporting package was not submitted to the Federal Audit Clearinghouse by the federally required deadline. Non-compliance with the reporting requirements is a violation of federal grants' terms and conditions.