FAC Explorer

Audit 339112

FY End
2023-12-31
Total Expended
$6.52M
Findings
2
Programs
2
Organization: Anchorage Affordable Housing and Land Trust (AK)
Year: 2023 Accepted: 2025-01-21
Auditor: Hutchings & Associates LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
519849 2023-001 Significant Deficiency - L
1096291 2023-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $6.34M Yes 1
97.024 Emergency Food and Shelter National Board Program $185,363 - 0

Contacts

Name Title Type
GFSYLXGJCRX5 Robin Ward Auditee
9072298403 Rod Hutchings Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The organization does not allocate indirect costs and, therefore, has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the organization under programs of the federal government for the years ended December 31, 2023, and 2022. 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 the organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the organization.

Finding Details

Finding 2023-001
Criteria: Pursuant Uniform Guidance 2 CFR 200.512(a), the audit package and data collection form shall be submitted 30 days after receipt of the auditors' report, or nine months after the end of the fiscal year - whichever comes first. Condition: The Organization did not engage a qualified audit firm within the required timeline to complete and submit the audit in a timely manner. Questioned costs: None noted. Context: The audit firm was engaged to perform an audit in accordance with 2 CFR 200.512(a) more than nine months after the audit period. Effect: The Organization is not in compliance with 2 CFR 200.512(a). Cause: The Organization did not have controls in place to identify the requirements of the federal single audit threshold. Repeat finding: N/A Recommendation: The Organization should combine its accounting and provided accounting records timely, arrange for an annual audit and submit the reporting package within the guidelines as outlined the Uniform Guidance regulations.
Finding 2023-001
Criteria: Pursuant Uniform Guidance 2 CFR 200.512(a), the audit package and data collection form shall be submitted 30 days after receipt of the auditors' report, or nine months after the end of the fiscal year - whichever comes first. Condition: The Organization did not engage a qualified audit firm within the required timeline to complete and submit the audit in a timely manner. Questioned costs: None noted. Context: The audit firm was engaged to perform an audit in accordance with 2 CFR 200.512(a) more than nine months after the audit period. Effect: The Organization is not in compliance with 2 CFR 200.512(a). Cause: The Organization did not have controls in place to identify the requirements of the federal single audit threshold. Repeat finding: N/A Recommendation: The Organization should combine its accounting and provided accounting records timely, arrange for an annual audit and submit the reporting package within the guidelines as outlined the Uniform Guidance regulations.