FAC Explorer

Audit 34478

FY End
2022-03-31
Total Expended
$2.19M
Findings
4
Programs
3
Organization: Bayamon Senior Citizens Housing Company, Inc. (FL)
Year: 2022 Accepted: 2022-12-15
Auditor: Bellows Associates P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
36253 2022-001 - - P
36254 2022-002 - Yes N
612695 2022-001 - - P
612696 2022-002 - Yes N

Programs

ALN Program Spent Major Findings
14.195 Section 8 Housing Assistance Payments Program $926,159 Yes 2
14.157 Supportive Housing for the Elderly $894,486 - 0
14.164 Section 201 Flexible Subsidy Loan Program $370,767 - 0

Contacts

Name Title Type
SQV3W1J4PPM8 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

Title: NOTE C U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAMS Accounting Policies: NOTE A BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bayamon Senior Citizens Housing Company, Inc., operating as Torre Jesus Sanchez Erazo Apartments, HUD Project 056-EH035, 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 Bayamon Senior Citizens Housing Company, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bayamon Senior Citizens Housing Company, Inc. NOTE B SUMMARY OF SIGNIFICANT 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. De Minimis Rate Used: N Rate Explanation: Bayamon Senior Citizens Housing Company, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Bayamon Senior Citizens Housing Company, Inc. has received a U.S. Department of Housing and UrbanDevelopment direct loan under Section 202 of the National Housing Act and a flexible subsidy loan under Section201. The loan balances outstanding at the beginning of the year are included in the federal expenditures presentedin the schedule. Bayamon Senior Citizens Housing Company, Inc. received no additional loans during the year.The balances of the loans outstanding as of March 31, 2022 consist of: Section 202 Supportive Housing for the Elderly 14.157 $573,244 and Section 201 Flexible Subsidy Loan Program 14.164 $370,767

Finding Details

Finding 2022-001
Finding No. 2022-001: Section 8 Housing Assistance Payments Program, CFDA 14.195 Finding Resolution Status: Resolved. Information on Universe Population Size: Fixed assets. Sample Size Information: Fixed assets. Identification of Repeat Finding and Finding Reference Number: No. Criteria: All property and equipment and construction in progress additions should be recorded in the appropriate period. Statement of Condition: Construction in progress was not recorded on the books of the Project in the appropriate period. Cause: Management did not timely record the construction in progress when work was performed. Effect or Potential Effect: Understatement of total assets and total liabilities on the prior year financial statements. Auditor Non-Compliance Code: Z ? Other Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should ensure all activity of the Project is timely and accurately recorded on the books. Response Indicator: Agree. Completion Date: 02/16/2022 Response: Management implemented new procedures to ensure the proper and timely recording of CIP transactions.
Finding 2022-002
Finding No. 2022-002: Section 8 Housing Assistance Payments Program, CFDA 14.195 Finding Resolution Status: Resolved. Information on Universe Population Size: 114 tenants. Sample Size Information: 20 tenants. Identification of Repeat Finding and Finding Reference Number: Yes, 2021-002. Criteria: HUD regulation requires annual unit inspections performed in a timely manner with the corresponding documentation maintained. Statement of Condition: The Project did not perform annual unit inspections for one tenant due to safety precautions taken in regard to the coronavirus. Cause: The Project did not conduct the annual unit inspections due to the coronavirus pandemic. Effect or Potential Effect: Unable to determine and assess whether the property has sustained any damage that require repairs. Auditor Non-Compliance Code: R ? Section 8 Program Administration Reporting Views of Responsible Officials: Management respectfully disagrees with the finding. Recommendation: The Project should perform annual unit inspections and maintain all required tenant documentation. Response Indicator: Disagree. Response: For the safety of our residents and staff, management advised the site not to perform unit inspections during the pandemic.
Finding 2022-001
Finding No. 2022-001: Section 8 Housing Assistance Payments Program, CFDA 14.195 Finding Resolution Status: Resolved. Information on Universe Population Size: Fixed assets. Sample Size Information: Fixed assets. Identification of Repeat Finding and Finding Reference Number: No. Criteria: All property and equipment and construction in progress additions should be recorded in the appropriate period. Statement of Condition: Construction in progress was not recorded on the books of the Project in the appropriate period. Cause: Management did not timely record the construction in progress when work was performed. Effect or Potential Effect: Understatement of total assets and total liabilities on the prior year financial statements. Auditor Non-Compliance Code: Z ? Other Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor?s recommendations will be adopted. Recommendation: The Project should ensure all activity of the Project is timely and accurately recorded on the books. Response Indicator: Agree. Completion Date: 02/16/2022 Response: Management implemented new procedures to ensure the proper and timely recording of CIP transactions.
Finding 2022-002
Finding No. 2022-002: Section 8 Housing Assistance Payments Program, CFDA 14.195 Finding Resolution Status: Resolved. Information on Universe Population Size: 114 tenants. Sample Size Information: 20 tenants. Identification of Repeat Finding and Finding Reference Number: Yes, 2021-002. Criteria: HUD regulation requires annual unit inspections performed in a timely manner with the corresponding documentation maintained. Statement of Condition: The Project did not perform annual unit inspections for one tenant due to safety precautions taken in regard to the coronavirus. Cause: The Project did not conduct the annual unit inspections due to the coronavirus pandemic. Effect or Potential Effect: Unable to determine and assess whether the property has sustained any damage that require repairs. Auditor Non-Compliance Code: R ? Section 8 Program Administration Reporting Views of Responsible Officials: Management respectfully disagrees with the finding. Recommendation: The Project should perform annual unit inspections and maintain all required tenant documentation. Response Indicator: Disagree. Response: For the safety of our residents and staff, management advised the site not to perform unit inspections during the pandemic.