Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
Assistance Listing (Federal award identification number and year): Section 8 Housing Assistance Payments Program Assistance Listing No. 14.195 (FL29-M000-047 and 1982)
Auditor non-compliance code: Z - Other
Finding resolution status: Cleared
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: No
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition #2024-001: The Form SF-SAC Single Audit Data Collection Form for the year ended December 31, 2023 was not submitted to the federal audit clearinghouse in the required timeframe.
Criteria: Pursuant to the Uniform Guidance, the Company is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Company is not in compliance with Uniform Guidance.
Cause: The Company did not file the data collection form for the year ended December 31, 2023
within 30 calendar days after receipt of the auditor's report.
Recommendation: The Company should submit the Form SF-SAC Single Audit Data Collection Form for the year ended December 31, 2023 as soon as practical.
Management's response: Agree. Form SF-SAC Single Audit Data Collection Form for the year ended December 31, 2023 was submitted to the federal audit clearinghouse on May 28, 2024.
Assistance Listing (Federal award identification number and year): Section 8 Housing Assistance Payments Program Assistance Listing No. 14.195 (FL29-M000-047 and 1982)
Auditor non-compliance code: Z - Other
Finding resolution status: Cleared
Universe population size: The universe population size is not applicable to the finding.
Sample size information: The sample size information is not applicable to the finding.
Statistically valid sample: No
Name of Federal agency: U.S. Department of Housing and Urban Development
Pass-through entity: N/A
Questioned costs: N/A
Statement of condition #2024-001: The Form SF-SAC Single Audit Data Collection Form for the year ended December 31, 2023 was not submitted to the federal audit clearinghouse in the required timeframe.
Criteria: Pursuant to the Uniform Guidance, the Company is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period.
Effect: The Company is not in compliance with Uniform Guidance.
Cause: The Company did not file the data collection form for the year ended December 31, 2023
within 30 calendar days after receipt of the auditor's report.
Recommendation: The Company should submit the Form SF-SAC Single Audit Data Collection Form for the year ended December 31, 2023 as soon as practical.
Management's response: Agree. Form SF-SAC Single Audit Data Collection Form for the year ended December 31, 2023 was submitted to the federal audit clearinghouse on May 28, 2024.