FAC Explorer

Audit 356030

FY End
2023-02-28
Total Expended
$1.10M
Findings
2
Programs
1
Organization: Church Street Corporation (NJ)
Year: 2023 Accepted: 2025-05-12
Auditor: Malesardi Quackenbush Swift & Company LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
560076 2023-001 Significant Deficiency Yes P
1136518 2023-001 Significant Deficiency Yes P

Programs

ALN Program Spent Major Findings
14.182 Lower Income Housing Assistance Program_section 8 New Construction/substantial Rehabilitation $1.10M Yes 1

Contacts

Name Title Type
NXFMB3MBMDM5 Donna Scandariato Auditee
7327876161 Erica Martinez 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: Church Street Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Church Street Corporation, under programs of the federal government for the year ended February 28, 2023. 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 (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of Church Street Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Church Street Corporation.
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: Church Street Corporation did not elect to use the 10% de minimis indirect cost rate 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: Subrecipients 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: Church Street Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. During the year ended February 28, 2023, Church Street Corporation did not provide funds relating to their programs to subrecipients.
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: Church Street Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Church Street Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Loan and Loan Guaranee Programs 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: Church Street Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. As of February 28, 2023, Church Street Corporation did not have any federal loan or loan guarantee programs.

Finding Details

Finding 2023-001
Federal Audit Clearinghouse Submissions Criteria: In accordance with 2 CFR Part 200, Subpart F (2 CFR 200.512), single audits are due to the Federal Audit Clearinghouse thirty days after receipt of the auditors' reports, but are considered on time if submitted within nine months after their fiscal period end date. Condition: The Organization has not submitted its audit package to the Federal Audit Clearinghouse in a timely manner for the previous two fiscal years. Cause: Controls are not in place to ensure the Organization has submitted their audit package to the Federal Audit Clearinghouse in a timely manner. Effect: The Organization is in noncompliance with specific requirements of 2 CFR Part 200, Subpart F (2 CFR 200.512). Identification of Repeat Finding: 2022-001 Recommendation: Controls should be implemented to ensure timely filing of the audit package to the Federal Audit Clearinghouse. Views of Responsible Officials: The Organization agress with the auditors' recommendation.
Finding 2023-001
Federal Audit Clearinghouse Submissions Criteria: In accordance with 2 CFR Part 200, Subpart F (2 CFR 200.512), single audits are due to the Federal Audit Clearinghouse thirty days after receipt of the auditors' reports, but are considered on time if submitted within nine months after their fiscal period end date. Condition: The Organization has not submitted its audit package to the Federal Audit Clearinghouse in a timely manner for the previous two fiscal years. Cause: Controls are not in place to ensure the Organization has submitted their audit package to the Federal Audit Clearinghouse in a timely manner. Effect: The Organization is in noncompliance with specific requirements of 2 CFR Part 200, Subpart F (2 CFR 200.512). Identification of Repeat Finding: 2022-001 Recommendation: Controls should be implemented to ensure timely filing of the audit package to the Federal Audit Clearinghouse. Views of Responsible Officials: The Organization agress with the auditors' recommendation.