FAC Explorer

Audit 340034

FY End
2024-09-30
Total Expended
$1.02M
Findings
4
Programs
2
Organization: Eagle Court Apartments (MN)
Year: 2024 Accepted: 2025-01-27
Auditor: Baker Meinz & Associates LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
520321 2024-001 - - N
520322 2024-002 - - N
1096763 2024-001 - - N
1096764 2024-002 - - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $957,900 Yes 2
14.871 Section 8 Housing Choice Vouchers $57,219 - 0

Contacts

Name Title Type
LHRLLP9HYYY4 Craig Ritter Auditee
3203020192 Brian Baker Auditor
No contacts on file

Notes to SEFA

Title: NOTE A – 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal award activity of Eagle Court Apartments, HUD Project No. 092-EE062, 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). Because the Schedule presents only a selected portion of the operations of Eagle Court Apartments it is not intended to and does not present the financial position, changes in net assets, or cash flows of Eagle Court Apartments.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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. Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. 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. Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C - U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM 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. Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Eagle Court Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. There are no HUD loans in this Project.

Finding Details

Finding 2024-001
FINDING 2024-001: SECTION 202, ASSISTANCE LISTING NUMBER 14.157 Condition: One of the tenant files tested did not contain a social security card or a completed move-in inspection. Criteria: The tenant file should contain a copy of the tenant's social security card and a completed move-in inspection. Effect: There is no financial effect. Context: A sample of tenant files was selected to ensure compliance with HUD regulations. The test found that one of the files tested was not in compliance. The non-compliance did not have a financial effect. The details and results of the sample are as follows: Population - 12, Dollars - N/A; Sample - 2, Dollars - N/A; Not in Compliance - 1, N/A; Questioned Costs - None; Cause: A copy of the tenant's social security card and move-in inspection were not obtained at the time of move-in. Recommendation: The Project should obtain a copy of the tenant's social security card and move-in inspection. If the move-in inspection cannot be located, the Project should document in the file that an inspection was performed but the report has been misplaced. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will remind staff that obtaining a copy of the tenant's social security card and move-in inspection is an important part of tenant management. Total-Department of Housing and Urban Development - None; Non-compliance code: R
Finding 2024-002
FINDING 2024-002: SECTION 202, Assistance Listing Number 14.157 Condition: One of the tenant files tested did not contain a signed EIV Acknowledgement Form, which acknowledges that the tenant received an EIV handbook from Project management. Criteria: All forms required by HUD should be included in the recertification process. Effect: There is no financial effect. Context: A sample of tenant files was selected to ensure compliance with HUD regulations. The test found that one of the files tested was not in compliance. The non-compliance did not have a financial effect. The details and results of the sample are as follows: Population - 12, Dollars - N/A; Sample - 2, Dollars - N/A; Not in Compliance - 1, N/A; Questioned Costs - None; Cause: Project management failed to obtain a signed EIV Acknowledgement Form from the tenant during the recertification process. Recommendation: Project management should be reminded that obtaining all required documents is an important step in tenant management. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will remind staff responsible for completing the recertifications to obtain all required documents. Total-Department of Housing and Urban Development - None, Non-compliance code: R
Finding 2024-001
FINDING 2024-001: SECTION 202, ASSISTANCE LISTING NUMBER 14.157 Condition: One of the tenant files tested did not contain a social security card or a completed move-in inspection. Criteria: The tenant file should contain a copy of the tenant's social security card and a completed move-in inspection. Effect: There is no financial effect. Context: A sample of tenant files was selected to ensure compliance with HUD regulations. The test found that one of the files tested was not in compliance. The non-compliance did not have a financial effect. The details and results of the sample are as follows: Population - 12, Dollars - N/A; Sample - 2, Dollars - N/A; Not in Compliance - 1, N/A; Questioned Costs - None; Cause: A copy of the tenant's social security card and move-in inspection were not obtained at the time of move-in. Recommendation: The Project should obtain a copy of the tenant's social security card and move-in inspection. If the move-in inspection cannot be located, the Project should document in the file that an inspection was performed but the report has been misplaced. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will remind staff that obtaining a copy of the tenant's social security card and move-in inspection is an important part of tenant management. Total-Department of Housing and Urban Development - None; Non-compliance code: R
Finding 2024-002
FINDING 2024-002: SECTION 202, Assistance Listing Number 14.157 Condition: One of the tenant files tested did not contain a signed EIV Acknowledgement Form, which acknowledges that the tenant received an EIV handbook from Project management. Criteria: All forms required by HUD should be included in the recertification process. Effect: There is no financial effect. Context: A sample of tenant files was selected to ensure compliance with HUD regulations. The test found that one of the files tested was not in compliance. The non-compliance did not have a financial effect. The details and results of the sample are as follows: Population - 12, Dollars - N/A; Sample - 2, Dollars - N/A; Not in Compliance - 1, N/A; Questioned Costs - None; Cause: Project management failed to obtain a signed EIV Acknowledgement Form from the tenant during the recertification process. Recommendation: Project management should be reminded that obtaining all required documents is an important step in tenant management. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will remind staff responsible for completing the recertifications to obtain all required documents. Total-Department of Housing and Urban Development - None, Non-compliance code: R