FAC Explorer

Audit 352658

FY End
2024-12-31
Total Expended
$1.71M
Findings
2
Programs
2
Organization: Nbc-Usa, Housing, Inc., Thirteen (OH)
Year: 2024 Accepted: 2025-04-04
Auditor: Tidwell Group LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
554039 2024-001 - Yes L
1130481 2024-001 - Yes L

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.48M Yes 1
14.195 Section 8 Housing Assistance Payments Program $227,872 - 0

Contacts

Name Title Type
GW19CLWE3AC3 Elizabeth King Auditee
6142733577 Andrew Gantzer Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: 2. Summary of Significant Accounting Policies (a) 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. (b) The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. (c) The outstanding balance of loan and loan guarantee programs at December 31, 2024 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $1,465,598. De Minimis Rate Used: N Rate Explanation: (b) The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of NBC-USA, Housing, Inc., Thirteen (the Corporation) under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a portion of the Corporation, it is not intended to and does not present the Corporation’s financial position, changes in net assets or cash flows.
Title: Summary of Significant Accounting Policies Accounting Policies: 2. Summary of Significant Accounting Policies (a) 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. (b) The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. (c) The outstanding balance of loan and loan guarantee programs at December 31, 2024 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $1,465,598. De Minimis Rate Used: N Rate Explanation: (b) The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 2. Summary of Significant Accounting Policies (a) 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. (b) The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. (c) The outstanding balance of loan and loan guarantee programs at December 31, 2024 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $1,465,598.

Finding Details

Finding 2024-001
S3800-010 Finding Reference Number 2024-001 S3800-011 Title and CFDA Number of Federal Program 14.155 - Project Mortgage Insurance for the Purchase or Reginancing of Existing Multifamily Housing Projects S3800-015 Type of Finding Federal Award Finding S3800-016 Finding Resolution Status Resolved S3800-017 Information on Universe Population Size N/A S3800-018 Sample Size Information N/A S3800-019 Identification of Repeat Finding and Finding Reference Number Not a repeat finding S3800-020 Criteria Uniform Guidance requires that the auditee submit the data collection form to the Federal Audit Clearinghouse (FAC). S3800-030 Statement of Condition The Corporation did not submit the 2023 data collection form to the FAC by the required deadline. S3800-032 Cause The Board of Directors was not able to supply the UEI for this entity to be able to file the data collection form. S3800-033 Effect or Potential Effect Loss of federal awards. S3800-035 Auditor Non-Compliance Code Z - Other S3800-040 Questioned Costs N/A S3800-045 Reporting Views of Responsible Officials Management agrees with the statement of condition and the cause noted above S3800-080 Recommendation The Corporation needs to obtain the UEI in order to complete and submit the data collection form. S3800-090 Auditor's Summary of the Auditee's Comments on the Findings and Recommendations The Corporation concurs and was able to obtain the UEI in order to complete and submit the 2023 data collection form. S3800-130 Response Indicator Agree S3800-140 Completion Date November 25, 2024 S3800-150 Response N/A S3800-160 Contact Person First Name Jill S3800-180 Contact Person Last Name Kolb
Finding 2024-001
S3800-010 Finding Reference Number 2024-001 S3800-011 Title and CFDA Number of Federal Program 14.155 - Project Mortgage Insurance for the Purchase or Reginancing of Existing Multifamily Housing Projects S3800-015 Type of Finding Federal Award Finding S3800-016 Finding Resolution Status Resolved S3800-017 Information on Universe Population Size N/A S3800-018 Sample Size Information N/A S3800-019 Identification of Repeat Finding and Finding Reference Number Not a repeat finding S3800-020 Criteria Uniform Guidance requires that the auditee submit the data collection form to the Federal Audit Clearinghouse (FAC). S3800-030 Statement of Condition The Corporation did not submit the 2023 data collection form to the FAC by the required deadline. S3800-032 Cause The Board of Directors was not able to supply the UEI for this entity to be able to file the data collection form. S3800-033 Effect or Potential Effect Loss of federal awards. S3800-035 Auditor Non-Compliance Code Z - Other S3800-040 Questioned Costs N/A S3800-045 Reporting Views of Responsible Officials Management agrees with the statement of condition and the cause noted above S3800-080 Recommendation The Corporation needs to obtain the UEI in order to complete and submit the data collection form. S3800-090 Auditor's Summary of the Auditee's Comments on the Findings and Recommendations The Corporation concurs and was able to obtain the UEI in order to complete and submit the 2023 data collection form. S3800-130 Response Indicator Agree S3800-140 Completion Date November 25, 2024 S3800-150 Response N/A S3800-160 Contact Person First Name Jill S3800-180 Contact Person Last Name Kolb