FAC Explorer

Audit 355218

FY End
2024-12-31
Total Expended
$1.91M
Findings
4
Programs
2
Organization: Calvin Court, Atlanta, Inc. (GA)
Year: 2024 Accepted: 2025-05-01
Auditor: Mauldin & Jenkins LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
558981 2024-001 - - E
558982 2024-002 - - C
1135423 2024-001 - - E
1135424 2024-002 - - C

Programs

ALN Program Spent Major Findings
14.195 Project-Based Rental Assistance (pbra) $978,098 Yes 2
14.871 Section 8 Housing Choice Vouchers $933,092 - 0

Contacts

Name Title Type
L6KSN92HEML5 Chad Pearce Auditee
2292636191 Ross Cannon Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION 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: Calvin Court, Atlanta, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Calvin Court, Atlanta, Inc. under programs of the federal government for the year ended December 31, 2024. The information in the 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 Calvin Court, Atlanta, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Calvin Court, Atlanta, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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: Calvin Court, Atlanta, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. 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.
Title: INDIRECT COST RATE 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: Calvin Court, Atlanta, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Calvin Court, Atlanta, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Criteria: Upon resident move-outs, appropriate security deposit and prepaid rent are to be returned within 30 days after move-out Condition: Security deposits are to be returned to residents within 30 days after move-out. Cause: Due to employee turnover during the fiscal year, resident security deposits were not returned to residents within the required 30 day window or by December 31, 2024. Effect: The failure to return resident security deposits resulted in an audit finding for the Organization. Recommendations: We recommend the Organization implement and follow a checklist of procedures for moveout occurrences to ensure security deposits due upon move-out are returned in a timely manner. Views of Responsible Officials: Management agrees with the recommendations and to adhere to current internal control processes that are in place to ensure the Organization is in compliance with all requirements as it relates to their federal awards.
Finding 2024-002
Criteria: Surplus cash at fiscal year-end as calculated in the Computation of Surplus Cash is to be deposited into the Residual Receipts account during the subsequent fiscal year. Condition: Residual receipts deposits due at December 31, 2023 were not made during the 2024 fiscal year. Cause: Due to expected organizational restructuring during fiscal year 2024, the residual receipt deposit was not made. During our testing of residual receipts, we noted deposits due at December 31, 2023 of $245,159 were not made during the 2024 fiscal year. Effect: The failure to deposit surplus cash during fiscal year 2024 resulted in an audit finding for the Organization. Recommendations: We recommend the Organization implement additional procedures during year-end close out procedures to ensure residual receipt deposits due at year-end are deposited in a timely manner. Views of Responsible Officials: Management agrees with the recommendations and to adhere to current internal control processes that are in place to ensure the Organization is in compliance with all requirements as it relates to their federal awards.
Finding 2024-001
Criteria: Upon resident move-outs, appropriate security deposit and prepaid rent are to be returned within 30 days after move-out Condition: Security deposits are to be returned to residents within 30 days after move-out. Cause: Due to employee turnover during the fiscal year, resident security deposits were not returned to residents within the required 30 day window or by December 31, 2024. Effect: The failure to return resident security deposits resulted in an audit finding for the Organization. Recommendations: We recommend the Organization implement and follow a checklist of procedures for moveout occurrences to ensure security deposits due upon move-out are returned in a timely manner. Views of Responsible Officials: Management agrees with the recommendations and to adhere to current internal control processes that are in place to ensure the Organization is in compliance with all requirements as it relates to their federal awards.
Finding 2024-002
Criteria: Surplus cash at fiscal year-end as calculated in the Computation of Surplus Cash is to be deposited into the Residual Receipts account during the subsequent fiscal year. Condition: Residual receipts deposits due at December 31, 2023 were not made during the 2024 fiscal year. Cause: Due to expected organizational restructuring during fiscal year 2024, the residual receipt deposit was not made. During our testing of residual receipts, we noted deposits due at December 31, 2023 of $245,159 were not made during the 2024 fiscal year. Effect: The failure to deposit surplus cash during fiscal year 2024 resulted in an audit finding for the Organization. Recommendations: We recommend the Organization implement additional procedures during year-end close out procedures to ensure residual receipt deposits due at year-end are deposited in a timely manner. Views of Responsible Officials: Management agrees with the recommendations and to adhere to current internal control processes that are in place to ensure the Organization is in compliance with all requirements as it relates to their federal awards.