FAC Explorer

Audit 353466

FY End
2024-06-30
Total Expended
$3.54M
Findings
2
Programs
1
Organization: United Cerebral Palsy Housing Development Fund Corporation, Inc. (NY)
Year: 2024 Accepted: 2025-04-11
Auditor: Bdo USA PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
554903 2024-001 - - L
1131345 2024-001 - - L

Programs

ALN Program Spent Major Findings
14.195 Project-Based Rental Assistance (pbra) $2.54M Yes 0

Contacts

Name Title Type
TXQSHBEGUD78 A'isha Torrence Auditee
2126836700 Sofia Blair Auditor
No contacts on file

Notes to SEFA

Title: INSURED MORTGAGES Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of United Cerebral Palsy Housing Development Fund Corporation, Inc. HUD Project No. 012-35316 (the Corporation) 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 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 Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation. Expenditures reported on the schedule of expenditures 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 not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Corporation obtained mortgage guarantees from HUD. The outstanding balances of these mortgages at June 30, 2024 were $2,540,639.

Finding Details

Finding 2024-001
Reporting – Noncompliance (Control Deficiency) Information on Federal Program: U.S. Department of Housing and Urban Development - Project Based Rental Assistance (PBRA) (Section 8 Project-Based Cluster), Award Listing Number 14.195 Criteria: According to the Uniform Guidance, recipients must submit a data collection form (DCF) that states whether the audit was completed and provide information about the auditee, its federal programs, and the results of the audit submitted within the earlier of 30 days after receipt of the auditor’s report, or nine months after the end of the audit period. Further, the Corporation is required to submit an owner-certified submission of the audited financial statements to the U.S. Department of Housing and Urban Development through the Real Estate Assessment Center (REAC filing) which is due on March 31, 2024. Condition: During our audit, we noted that the DCF for the reporting period ended June 30, 2024 was not filed with the Federal Audit Clearinghouse timely. Further, the REAC filing to the U.S. Department of Housing and Urban Development was also not timely submitted. Cause: Due to the timing of the annual financial statements being completed, the Corporation could not submit the DCF and REAC filing by the required timeline. Effect: The Corporation not submitting the DCF and REAC filing timely could affect future funding from the U.S. Department of Housing and Urban Development. Questioned Costs: None noted. Context: This was a condition noted per review of the Corporation’s compliance with the reporting requirements. Recommendation: We recommend that the Corporation submit the DCF and REAC filing timely. Views of Responsible Officials: The Corporation agrees with the federal award finding identified in the audit. The Corporation’s response to this finding is described in the accompanying management’s planned corrective actions.
Finding 2024-001
Reporting – Noncompliance (Control Deficiency) Information on Federal Program: U.S. Department of Housing and Urban Development - Project Based Rental Assistance (PBRA) (Section 8 Project-Based Cluster), Award Listing Number 14.195 Criteria: According to the Uniform Guidance, recipients must submit a data collection form (DCF) that states whether the audit was completed and provide information about the auditee, its federal programs, and the results of the audit submitted within the earlier of 30 days after receipt of the auditor’s report, or nine months after the end of the audit period. Further, the Corporation is required to submit an owner-certified submission of the audited financial statements to the U.S. Department of Housing and Urban Development through the Real Estate Assessment Center (REAC filing) which is due on March 31, 2024. Condition: During our audit, we noted that the DCF for the reporting period ended June 30, 2024 was not filed with the Federal Audit Clearinghouse timely. Further, the REAC filing to the U.S. Department of Housing and Urban Development was also not timely submitted. Cause: Due to the timing of the annual financial statements being completed, the Corporation could not submit the DCF and REAC filing by the required timeline. Effect: The Corporation not submitting the DCF and REAC filing timely could affect future funding from the U.S. Department of Housing and Urban Development. Questioned Costs: None noted. Context: This was a condition noted per review of the Corporation’s compliance with the reporting requirements. Recommendation: We recommend that the Corporation submit the DCF and REAC filing timely. Views of Responsible Officials: The Corporation agrees with the federal award finding identified in the audit. The Corporation’s response to this finding is described in the accompanying management’s planned corrective actions.