FAC Explorer

Audit 363778

FY End
2025-03-31
Total Expended
$990,520
Findings
8
Programs
1
Organization: Csi Residential, Inc. (CT)
Year: 2025 Accepted: 2025-08-06
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
572935 2025-001 Significant Deficiency - L
572936 2025-001 Significant Deficiency - L
572937 2025-002 Significant Deficiency - L
572938 2025-002 Significant Deficiency - L
1149377 2025-001 Significant Deficiency - L
1149378 2025-001 Significant Deficiency - L
1149379 2025-002 Significant Deficiency - L
1149380 2025-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $63,824 Yes 2

Contacts

Name Title Type
QS1KM5BK5NE4 Laurie Rudman Auditee
8606126309 Sean P Morrison Auditor
No contacts on file

Notes to SEFA

Title: LOAN PROGRAMS Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of CSI Residential, Inc. (CSI) under programs of the federal government for the year ended March 31, 2025. 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 CSI, it is not intended to and does not present the financial position, changes in net assets or cash flows of CSI. Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, 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. For performance-based awards, expenditures reported represent amounts earned. De Minimis Rate Used: N Rate Explanation: CSI has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The following is a summary of loans outstanding under federal loan programs: Outstanding Loan Program Loans Supportive Housing for Persons With Disabilities: Capital Advances $ 926,696

Finding Details

Finding 2025-001
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Control over reserve account properly implemented and enforced. Condition: During the 2025 audit, we noted that the Project had not timely reviewed the bank reconciliations for July 2024 . Questioned Costs: None. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the July 2024 bank reconciliations were not properly reviewed. Cause: Due to changes in management certain controls were not timely completed. Effect: The Project did not properly review bank reconciliations. Repeat Finding: None. Recommendation: We recommend the Project review bank reconciliations timely and formerly. Views of Responsible Officials: There is no disagreement with the audit finding.
Finding 2025-001
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Control over reserve account properly implemented and enforced. Condition: During the 2025 audit, we noted that the Project had not timely reviewed the bank reconciliations for July 2024 . Questioned Costs: None. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the July 2024 bank reconciliations were not properly reviewed. Cause: Due to changes in management certain controls were not timely completed. Effect: The Project did not properly review bank reconciliations. Repeat Finding: None. Recommendation: We recommend the Project review bank reconciliations timely and formerly. Views of Responsible Officials: There is no disagreement with the audit finding.
Finding 2025-002
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Deposits required by HUD were not made during fiscal year 2025 to the reserve fund. Condition: During the 2025 audit, we noted that the Project had not deposited the amount required by HUD to be deposited monthly in the reserve fund for February 2025. Questioned Costs: $1,500 in reserve fund deposits not made. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the required monthly deposit was not made for February 2025. Cause: Due to cash constraints caused by and untimely payment made to a related party the Project was unable to make the deposits. Effect: The Project did not make sufficient deposits. Repeat Finding: None. Recommendation: We recommend the Project enforce procedures that ensure deposits are made timely. Views of Responsible Officials: There is no disagreement with the audit finding. Management has made the missing deposit as of March 31, 2025.
Finding 2025-002
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Deposits required by HUD were not made during fiscal year 2025 to the reserve fund. Condition: During the 2025 audit, we noted that the Project had not deposited the amount required by HUD to be deposited monthly in the reserve fund for February 2025. Questioned Costs: $1,500 in reserve fund deposits not made. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the required monthly deposit was not made for February 2025. Cause: Due to cash constraints caused by and untimely payment made to a related party the Project was unable to make the deposits. Effect: The Project did not make sufficient deposits. Repeat Finding: None. Recommendation: We recommend the Project enforce procedures that ensure deposits are made timely. Views of Responsible Officials: There is no disagreement with the audit finding. Management has made the missing deposit as of March 31, 2025.
Finding 2025-001
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Control over reserve account properly implemented and enforced. Condition: During the 2025 audit, we noted that the Project had not timely reviewed the bank reconciliations for July 2024 . Questioned Costs: None. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the July 2024 bank reconciliations were not properly reviewed. Cause: Due to changes in management certain controls were not timely completed. Effect: The Project did not properly review bank reconciliations. Repeat Finding: None. Recommendation: We recommend the Project review bank reconciliations timely and formerly. Views of Responsible Officials: There is no disagreement with the audit finding.
Finding 2025-001
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Control over reserve account properly implemented and enforced. Condition: During the 2025 audit, we noted that the Project had not timely reviewed the bank reconciliations for July 2024 . Questioned Costs: None. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the July 2024 bank reconciliations were not properly reviewed. Cause: Due to changes in management certain controls were not timely completed. Effect: The Project did not properly review bank reconciliations. Repeat Finding: None. Recommendation: We recommend the Project review bank reconciliations timely and formerly. Views of Responsible Officials: There is no disagreement with the audit finding.
Finding 2025-002
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Deposits required by HUD were not made during fiscal year 2025 to the reserve fund. Condition: During the 2025 audit, we noted that the Project had not deposited the amount required by HUD to be deposited monthly in the reserve fund for February 2025. Questioned Costs: $1,500 in reserve fund deposits not made. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the required monthly deposit was not made for February 2025. Cause: Due to cash constraints caused by and untimely payment made to a related party the Project was unable to make the deposits. Effect: The Project did not make sufficient deposits. Repeat Finding: None. Recommendation: We recommend the Project enforce procedures that ensure deposits are made timely. Views of Responsible Officials: There is no disagreement with the audit finding. Management has made the missing deposit as of March 31, 2025.
Finding 2025-002
Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program Name: Supportive Housing for Persons with Disabilities (Section 811) Assistance Listing Number: 14.181 Type of Finding: Significant Deficiency in Internal Control over Compliance; Compliance Criteria or Specific Requirement: Deposits required by HUD were not made during fiscal year 2025 to the reserve fund. Condition: During the 2025 audit, we noted that the Project had not deposited the amount required by HUD to be deposited monthly in the reserve fund for February 2025. Questioned Costs: $1,500 in reserve fund deposits not made. Context: Through audit compliance testing procedures, three months of bank reconciliations were tested and identified that the required monthly deposit was not made for February 2025. Cause: Due to cash constraints caused by and untimely payment made to a related party the Project was unable to make the deposits. Effect: The Project did not make sufficient deposits. Repeat Finding: None. Recommendation: We recommend the Project enforce procedures that ensure deposits are made timely. Views of Responsible Officials: There is no disagreement with the audit finding. Management has made the missing deposit as of March 31, 2025.