FAC Explorer

Audit 346200

FY End
2024-06-30
Total Expended
$1.59M
Findings
8
Programs
2
Organization: Williamsburg Area Improved Dwellings, Inc. (PA)
Year: 2024 Accepted: 2025-03-14
Auditor: Fiore Fedeli Snyder Carthers LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
528133 2024-001 Significant Deficiency Yes P
528134 2024-002 Significant Deficiency Yes P
528135 2024-001 Significant Deficiency Yes P
528136 2024-002 Significant Deficiency Yes P
1104575 2024-001 Significant Deficiency Yes P
1104576 2024-002 Significant Deficiency Yes P
1104577 2024-001 Significant Deficiency Yes P
1104578 2024-002 Significant Deficiency Yes P

Programs

ALN Program Spent Major Findings
10.415 Rural Rental Housing Loans $1.34M Yes 2
10.427 Rural Rental Assistance Payments $242,374 - 2

Contacts

Name Title Type
Y5E4BL7NGNU7 Michelle Ross Auditee
8148323212 Stanley N Roseberry IV Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported in the Schedule of Federal Awards 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 recognized are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Federal CFDA number refers to the designation of the program within the Catalog of Federal Domestic Assistance. De Minimis Rate Used: N Rate Explanation: N/A The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of Williamsburg Area Improved Dwellings, Inc. (the "Organization") under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (0MB) 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.
Title: BASIS OF ACCOUNTING Accounting Policies: Expenditures reported in the Schedule of Federal Awards 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 recognized are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Federal CFDA number refers to the designation of the program within the Catalog of Federal Domestic Assistance. De Minimis Rate Used: N Rate Explanation: N/A Expenditures reported in the Schedule of Federal Awards 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 recognized are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Federal CFDA number refers to the designation of the program within the Catalog of Federal Domestic Assistance.
Title: FEDERAL PROGRAMS Accounting Policies: Expenditures reported in the Schedule of Federal Awards 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 recognized are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Federal CFDA number refers to the designation of the program within the Catalog of Federal Domestic Assistance. De Minimis Rate Used: N Rate Explanation: N/A The objectives of the major federal program as described in the Catalog of Federal Domestic Assistance is: CFDA No. 10.415 Rural Rental Housing Loans To provide loans to construct, rehabilitate, and repair housing suited for very low, low and moderate income individuals living in rural areas. Additionally, loans are provided to provide housing for senior citizens living independently or living in congregate care facilities, and handicapped individuals living in rural areas.
Title: FEDERAL AWARDS Accounting Policies: Expenditures reported in the Schedule of Federal Awards 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 recognized are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Federal CFDA number refers to the designation of the program within the Catalog of Federal Domestic Assistance. De Minimis Rate Used: N Rate Explanation: N/A See the Notes to the SEFA for chart/ table

Finding Details

Finding 2024-001
2024-001 Segregation of Duties Criteria: There should be adequate segregation of duties within the entity's accounting department to ensure effective internal control. Condition: There is a lack of segregation within Williamsburg Area Improved Dwellings, Inc.'s ("WAID") accounting department. Effect: Errors or misstatements may not be detected. Cause: WAID only has one staff person in its accounting department. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Implementation of compensating controls to mitigate the lack of segregation. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-002
2024-002 Inadequate Documentation of the Components of Internal Control Criteria: The components of internal control and the related processes should be clearly documented and all employees should be aware of them. Condition: Although functioning controls are in place they have not been documented. Effect: There is a risk that controls may become ineffective due to staff turnover or deterioration of processes. Cause: The limited staff of WAID has precluded them from documenting control procedures. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Document existing control policies and procedures. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-001
2024-001 Segregation of Duties Criteria: There should be adequate segregation of duties within the entity's accounting department to ensure effective internal control. Condition: There is a lack of segregation within Williamsburg Area Improved Dwellings, Inc.'s ("WAID") accounting department. Effect: Errors or misstatements may not be detected. Cause: WAID only has one staff person in its accounting department. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Implementation of compensating controls to mitigate the lack of segregation. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-002
2024-002 Inadequate Documentation of the Components of Internal Control Criteria: The components of internal control and the related processes should be clearly documented and all employees should be aware of them. Condition: Although functioning controls are in place they have not been documented. Effect: There is a risk that controls may become ineffective due to staff turnover or deterioration of processes. Cause: The limited staff of WAID has precluded them from documenting control procedures. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Document existing control policies and procedures. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-001
2024-001 Segregation of Duties Criteria: There should be adequate segregation of duties within the entity's accounting department to ensure effective internal control. Condition: There is a lack of segregation within Williamsburg Area Improved Dwellings, Inc.'s ("WAID") accounting department. Effect: Errors or misstatements may not be detected. Cause: WAID only has one staff person in its accounting department. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Implementation of compensating controls to mitigate the lack of segregation. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-002
2024-002 Inadequate Documentation of the Components of Internal Control Criteria: The components of internal control and the related processes should be clearly documented and all employees should be aware of them. Condition: Although functioning controls are in place they have not been documented. Effect: There is a risk that controls may become ineffective due to staff turnover or deterioration of processes. Cause: The limited staff of WAID has precluded them from documenting control procedures. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Document existing control policies and procedures. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-001
2024-001 Segregation of Duties Criteria: There should be adequate segregation of duties within the entity's accounting department to ensure effective internal control. Condition: There is a lack of segregation within Williamsburg Area Improved Dwellings, Inc.'s ("WAID") accounting department. Effect: Errors or misstatements may not be detected. Cause: WAID only has one staff person in its accounting department. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Implementation of compensating controls to mitigate the lack of segregation. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.
Finding 2024-002
2024-002 Inadequate Documentation of the Components of Internal Control Criteria: The components of internal control and the related processes should be clearly documented and all employees should be aware of them. Condition: Although functioning controls are in place they have not been documented. Effect: There is a risk that controls may become ineffective due to staff turnover or deterioration of processes. Cause: The limited staff of WAID has precluded them from documenting control procedures. Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit. Recommendation: Document existing control policies and procedures. Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.