FAC Explorer

Audit 335512

FY End
2023-12-31
Total Expended
$3.31M
Findings
4
Programs
2
Organization: St Lukes Senior Housing, INC (CT)
Year: 2023 Accepted: 2025-01-02
Auditor: Bailey Moore Glazer Schaeffer & Proto LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
517509 2023-001 - - P
517510 2023-002 - - B
1093951 2023-001 - - P
1093952 2023-002 - - B

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $188,773 Yes 0
14.239 Home Investment Partnerships Program $180,000 - 0

Contacts

Name Title Type
JD13ELZ44865 Matthew Fontaine Auditee
8609519411 Brian S Borgerson CPA Auditor
No contacts on file

Notes to SEFA

Title: Note C — U.S. Department of Housing and Urban Development Loan Program: Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Luke's Senior Housing, Inc. and is presented on the accrual basis of accounting. 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 presents only a selected portion of the operations of St Luke's Senior Housing, Inc. It is not intended to, and does not present, the financial position, changes in net assets or cash flows of St Luke's Senior Housing, Inc. De Minimis Rate Used: N Rate Explanation: 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. St Luke's Senior Housing, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. St Luke's Senior Housing, Inc. has received various U.S. Department of Housing and Urban Development funding. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. St Luke's Senior Housing, Inc. received no additional loans during the year. The balances outstanding at December 31, 2023, consist of: Section 202 Capital Advance 14.157 $ 2,945,700 HOME Investment Partnership 14.239 $ 180,000

Finding Details

Finding 2023-001
Finding number : 2023-001 ALN: 14.157 - Supportive Housing for the Elderly Grantor: HUD Questioned Costs: $0 Criteria: Section 202 Projects are generally required to make monthly deposits to a replacement reserve account in an amount determined periodically by HUD. Description of Condition: The Project failed to make the December deposit to the replacement reserve and did not catch up the deposits when the December voucher was deposited in early January. Cause of Condition: The Project did not get is rental subsidy request which included three months of a retroactive rent increase leaving it in a severe cash shortage. Effect of Condition: The replacement reserve account is under funded by the $2,101 monthly deposit for December. Recommendations: Care should be taken to catchup any missing deposits and return approved loans when the missing vouchers are eventually deposited. Managements Views and Corrective Action Plan: Management's views and corrective action plan is included at the end of this report after the summary schedule of prior audit findings and status.
Finding 2023-002
Finding number : 2023-002 ALN: 14.157 - Supportive Housing for the Elderly Grantor: HUD Questioned Costs: $1,754.89 Criteria: Projects are required to abide by the guidelines of the Compliance Supplement Allowable Costs/Cost Principles which dictate costs which are not allowed in government funded Projects. Description of Condition: The Project was late in making its July city real estate tax payment of which the first half is due August 1 of each year incurring a penalty of $1,754.89. This penalty is not an allowed Project cost. Cause of Condition: The Project received a reduced July voucher because of normal adjustments and the August and September vouchers were not paid until October leaving the project unable to pay the taxes on time. Effect of Condition: The Project paid a penalty of $1,754.89 to the City of New Haven. Recommendations: Other sources should be sought out to pay these penalties or other expenses be deferred enabling the taxes to be paid on time. Managements Views and Corrective Action Plan: Other sources should be sought out to pay these penalties or other expenses be deferred enabling the taxes to be paid on time.
Finding 2023-001
Finding number : 2023-001 ALN: 14.157 - Supportive Housing for the Elderly Grantor: HUD Questioned Costs: $0 Criteria: Section 202 Projects are generally required to make monthly deposits to a replacement reserve account in an amount determined periodically by HUD. Description of Condition: The Project failed to make the December deposit to the replacement reserve and did not catch up the deposits when the December voucher was deposited in early January. Cause of Condition: The Project did not get is rental subsidy request which included three months of a retroactive rent increase leaving it in a severe cash shortage. Effect of Condition: The replacement reserve account is under funded by the $2,101 monthly deposit for December. Recommendations: Care should be taken to catchup any missing deposits and return approved loans when the missing vouchers are eventually deposited. Managements Views and Corrective Action Plan: Management's views and corrective action plan is included at the end of this report after the summary schedule of prior audit findings and status.
Finding 2023-002
Finding number : 2023-002 ALN: 14.157 - Supportive Housing for the Elderly Grantor: HUD Questioned Costs: $1,754.89 Criteria: Projects are required to abide by the guidelines of the Compliance Supplement Allowable Costs/Cost Principles which dictate costs which are not allowed in government funded Projects. Description of Condition: The Project was late in making its July city real estate tax payment of which the first half is due August 1 of each year incurring a penalty of $1,754.89. This penalty is not an allowed Project cost. Cause of Condition: The Project received a reduced July voucher because of normal adjustments and the August and September vouchers were not paid until October leaving the project unable to pay the taxes on time. Effect of Condition: The Project paid a penalty of $1,754.89 to the City of New Haven. Recommendations: Other sources should be sought out to pay these penalties or other expenses be deferred enabling the taxes to be paid on time. Managements Views and Corrective Action Plan: Other sources should be sought out to pay these penalties or other expenses be deferred enabling the taxes to be paid on time.