FAC Explorer

Audit 356760

FY End
2022-06-30
Total Expended
$1.49M
Findings
4
Programs
2
Organization: M. Carter Plaza (OR)
Year: 2022 Accepted: 2025-05-20
Auditor: Gary McGee & CO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
561169 2022-001 Significant Deficiency Yes L
561170 2022-001 Significant Deficiency Yes L
1137611 2022-001 Significant Deficiency Yes L
1137612 2022-001 Significant Deficiency Yes L

Programs

ALN Program Spent Major Findings
14.139 Mortgage Insurance Rental Housing in Urban Renewal Areas $1.28M Yes 1
14.195 Project-Based Rental Assistance (pbra) $216,283 - 1

Contacts

Name Title Type
WLPHARGYQFP8 Kymberly Horner Auditee
5032882923 Yee Lee McGee 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: Y Rate Explanation: M. Carter Plaza has elected to use the 10-percent de minimis indirect cost rate, as allowed under the Uniform Guidance. However, during the year ended June 30, 2022, there were no indirect costs charged to federal awards The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of M. Carter Plaza under programs of the federal government for the year ended June 30, 2022. 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of M. Carter Plaza, it is not intended to and does not present the financial position, changes in net assets, or cash flows of M. Carter Plaza. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between M. Carter Plaza and agencies and departments of the Federal Government and all sub-awards to the organization by non-federal organizations pursuant to federal grants, contracts and similar agreements.
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: Y Rate Explanation: M. Carter Plaza has elected to use the 10-percent de minimis indirect cost rate, as allowed under the Uniform Guidance. However, during the year ended June 30, 2022, there were no indirect costs charged to federal awards 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: Y Rate Explanation: M. Carter Plaza has elected to use the 10-percent de minimis indirect cost rate, as allowed under the Uniform Guidance. However, during the year ended June 30, 2022, there were no indirect costs charged to federal awards M. Carter Plaza has elected to use the 10-percent de minimis indirect cost rate, as allowed under the Uniform Guidance. However, during the year ended June 30, 2022, there were no indirect costs charged to federal awards.
Title: Loan 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: Y Rate Explanation: M. Carter Plaza has elected to use the 10-percent de minimis indirect cost rate, as allowed under the Uniform Guidance. However, during the year ended June 30, 2022, there were no indirect costs charged to federal awards The U.S. Department of Housing and Urban Development has issued notes and mortgages to M. Carter Plaza in connection with certain capital advances. These notes and mortgages have 40 to 55-year terms. M. Carter Plaza is not required to repay principal or interest and the notes are forgiven at maturity, as long as the organization provides housing for the designated class of people in accordance with applicable HUD requirements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule of Expenditures of Federal Awards. The following summarizes the organization’s loan program-related activities for the year ended June 30, 2022: See the Notes to the SEFA for chart/table

Finding Details

Finding 2022-001
Finding number: 2022-001 Federal Assistance Listing No: 14.139 and 14.195 Program name: Mortgage Insurance Rental Housing in Urban Renewal Areas, Section 8 Housing Assistance Payments – Special Allocations Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: n/a Grant number: n/a Federal award year: 2022 Finding type: Significant deficiency and non-compliance Compliance requirement: Reporting Questioned costs: n/a Repeat finding: Yes Criteria: In accordance with the requirements of CFR §200.512, the audit shall be completed and the data collection form and reporting package shall be submitted to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditor’s report, or nine months after the end of the audit period. Condition: M. Carter Plaza did not electronically submit its June 30, 2021 Single Audit reporting package to the Federal Clearinghouse within the required time period. Cause: M. Carter Plaza’s 2021 accounting records were not closed in a timely matter and the audit was not completed prior to the data collection form due date. Effect: M. Carter Plaza did not comply with CFR §200.512. The late submission results in non-compliance for all federal programs. Audit Recommendation: We recommend that management implement procedures to ensure that all required reporting is submitted in a timely manner and in accordance with CFR §200.512 deadlines. Management’s Response: The organization experienced significant disruptions in the Fiscal Department with regards to staffing beginning in September of 2019 which were exacerbated by the onset of COVID-19 and related impacts and restrictions on the work environment in March of 2020 which continue until today. These impacts had a significant impact on Management’s ability to respond to the audit which was conducted almost entirely remotely. Management is adapting its processes in the Fiscal Department to better adapt to the new remote work environment while continuing to ensure proper separation of duties and adherence to policies and procedures, as well as training and integrating new staff in the Fiscal Department and the employment of outside experts when appropriate to ensure the adaptation of the Fiscal Department to the remote nature of its work and to have a positive impact on the timeliness of future audit processes.
Finding 2022-001
Finding number: 2022-001 Federal Assistance Listing No: 14.139 and 14.195 Program name: Mortgage Insurance Rental Housing in Urban Renewal Areas, Section 8 Housing Assistance Payments – Special Allocations Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: n/a Grant number: n/a Federal award year: 2022 Finding type: Significant deficiency and non-compliance Compliance requirement: Reporting Questioned costs: n/a Repeat finding: Yes Criteria: In accordance with the requirements of CFR §200.512, the audit shall be completed and the data collection form and reporting package shall be submitted to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditor’s report, or nine months after the end of the audit period. Condition: M. Carter Plaza did not electronically submit its June 30, 2021 Single Audit reporting package to the Federal Clearinghouse within the required time period. Cause: M. Carter Plaza’s 2021 accounting records were not closed in a timely matter and the audit was not completed prior to the data collection form due date. Effect: M. Carter Plaza did not comply with CFR §200.512. The late submission results in non-compliance for all federal programs. Audit Recommendation: We recommend that management implement procedures to ensure that all required reporting is submitted in a timely manner and in accordance with CFR §200.512 deadlines. Management’s Response: The organization experienced significant disruptions in the Fiscal Department with regards to staffing beginning in September of 2019 which were exacerbated by the onset of COVID-19 and related impacts and restrictions on the work environment in March of 2020 which continue until today. These impacts had a significant impact on Management’s ability to respond to the audit which was conducted almost entirely remotely. Management is adapting its processes in the Fiscal Department to better adapt to the new remote work environment while continuing to ensure proper separation of duties and adherence to policies and procedures, as well as training and integrating new staff in the Fiscal Department and the employment of outside experts when appropriate to ensure the adaptation of the Fiscal Department to the remote nature of its work and to have a positive impact on the timeliness of future audit processes.
Finding 2022-001
Finding number: 2022-001 Federal Assistance Listing No: 14.139 and 14.195 Program name: Mortgage Insurance Rental Housing in Urban Renewal Areas, Section 8 Housing Assistance Payments – Special Allocations Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: n/a Grant number: n/a Federal award year: 2022 Finding type: Significant deficiency and non-compliance Compliance requirement: Reporting Questioned costs: n/a Repeat finding: Yes Criteria: In accordance with the requirements of CFR §200.512, the audit shall be completed and the data collection form and reporting package shall be submitted to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditor’s report, or nine months after the end of the audit period. Condition: M. Carter Plaza did not electronically submit its June 30, 2021 Single Audit reporting package to the Federal Clearinghouse within the required time period. Cause: M. Carter Plaza’s 2021 accounting records were not closed in a timely matter and the audit was not completed prior to the data collection form due date. Effect: M. Carter Plaza did not comply with CFR §200.512. The late submission results in non-compliance for all federal programs. Audit Recommendation: We recommend that management implement procedures to ensure that all required reporting is submitted in a timely manner and in accordance with CFR §200.512 deadlines. Management’s Response: The organization experienced significant disruptions in the Fiscal Department with regards to staffing beginning in September of 2019 which were exacerbated by the onset of COVID-19 and related impacts and restrictions on the work environment in March of 2020 which continue until today. These impacts had a significant impact on Management’s ability to respond to the audit which was conducted almost entirely remotely. Management is adapting its processes in the Fiscal Department to better adapt to the new remote work environment while continuing to ensure proper separation of duties and adherence to policies and procedures, as well as training and integrating new staff in the Fiscal Department and the employment of outside experts when appropriate to ensure the adaptation of the Fiscal Department to the remote nature of its work and to have a positive impact on the timeliness of future audit processes.
Finding 2022-001
Finding number: 2022-001 Federal Assistance Listing No: 14.139 and 14.195 Program name: Mortgage Insurance Rental Housing in Urban Renewal Areas, Section 8 Housing Assistance Payments – Special Allocations Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: n/a Grant number: n/a Federal award year: 2022 Finding type: Significant deficiency and non-compliance Compliance requirement: Reporting Questioned costs: n/a Repeat finding: Yes Criteria: In accordance with the requirements of CFR §200.512, the audit shall be completed and the data collection form and reporting package shall be submitted to the Federal Audit Clearinghouse within the earlier of 30 days after receipt of the auditor’s report, or nine months after the end of the audit period. Condition: M. Carter Plaza did not electronically submit its June 30, 2021 Single Audit reporting package to the Federal Clearinghouse within the required time period. Cause: M. Carter Plaza’s 2021 accounting records were not closed in a timely matter and the audit was not completed prior to the data collection form due date. Effect: M. Carter Plaza did not comply with CFR §200.512. The late submission results in non-compliance for all federal programs. Audit Recommendation: We recommend that management implement procedures to ensure that all required reporting is submitted in a timely manner and in accordance with CFR §200.512 deadlines. Management’s Response: The organization experienced significant disruptions in the Fiscal Department with regards to staffing beginning in September of 2019 which were exacerbated by the onset of COVID-19 and related impacts and restrictions on the work environment in March of 2020 which continue until today. These impacts had a significant impact on Management’s ability to respond to the audit which was conducted almost entirely remotely. Management is adapting its processes in the Fiscal Department to better adapt to the new remote work environment while continuing to ensure proper separation of duties and adherence to policies and procedures, as well as training and integrating new staff in the Fiscal Department and the employment of outside experts when appropriate to ensure the adaptation of the Fiscal Department to the remote nature of its work and to have a positive impact on the timeliness of future audit processes.