FAC Explorer

Audit 363967

FY End
2024-06-30
Total Expended
$3.34M
Findings
2
Programs
3
Organization: Neighborhood Association for Inter-Cultural Affairs, Inc. (NY)
Year: 2024 Accepted: 2025-08-08
Auditor: Galleros Robinson CPAS LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
573148 2024-001 - - N
1149590 2024-001 - - N

Programs

ALN Program Spent Major Findings
93.558 Temporary Assistance for Needy Families $3.09M Yes 1
14.231 Emergency Solutions Grant Program $200,000 - 0
21.023 Emergency Rental Assistance Program $51,343 - 0

Contacts

Name Title Type
C8E6TUF9QK95 Shameeka Gonzalez Auditee
3472918120 Barbara Siochi Auditor
No contacts on file

Notes to SEFA

Title: 1. BASIS OF PRESENTATION Accounting Policies: The basis of accounting determines when transactions are reported in NAICA’s basic financial statements. 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: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. For purposes of complying with the Federal Single Audit Act of 1984, as amended by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), the accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of all federal awards of Neighborhood Association for Inter-Cultural Affairs, Inc. (“NAICA” or the “Organization”) under programs of the federal government for the year ended June 30, 2024. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: The basis of accounting determines when transactions are reported in NAICA’s basic financial statements. 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: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The basis of accounting determines when transactions are reported in NAICA’s basic financial statements. 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: 3. INDIRECT COST RATE Accounting Policies: The basis of accounting determines when transactions are reported in NAICA’s basic financial statements. 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: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Criteria: Pursuant to the Uniform Guidance, organizations expending federal financial assistance in excess of $750,000 in a fiscal year are required to submit the data collection form and reporting package by the earlier of either 30 days after receipt of the auditor’s report, or nine months after the end of the fiscal year end date. Condition: The completion of the Organization’s Single Audit was delayed due to unforeseen challenges in coordinating audit support across multiple related entities and fiscal years, which impacted the timely finalization of the audit and submission of the required audit and submission of the required reporting package. Hence, the Single Audit reporting deadline was not met. Cause: The delay was primarily caused by the need to perform additional reconciliation procedures across interrelated entities with differing fiscal year ends, which extended the preparation and review process of the financial statements and audit deliverables. Additionally, the Organization experienced turnover in key finance personnel during the year, which affected the pace of audit coordination and document retrieval. Effect: The Organization failed to submit the Single Audit reporting package for the year ended June 30, 2024 on time. Questioned costs: None Views of Responsible Officials and Planned Corrective Actions: The Organization acknowledges the delay in the submission of the Single Audit reporting package and has taken steps to prevent future occurrences. Specifically: • The Organization has implemented a revised audit timeline that includes earlier kickoff dates, stricter internal deadlines for submission of audit schedules, and enhanced monitoring of milestone progress. • Cross-entity coordination procedures have been formalized to improve efficiency when consolidating information involving related parties. • Additional training has been provided to the finance team on audit readiness and Single Audit compliance requirements.
Finding 2024-001
Criteria: Pursuant to the Uniform Guidance, organizations expending federal financial assistance in excess of $750,000 in a fiscal year are required to submit the data collection form and reporting package by the earlier of either 30 days after receipt of the auditor’s report, or nine months after the end of the fiscal year end date. Condition: The completion of the Organization’s Single Audit was delayed due to unforeseen challenges in coordinating audit support across multiple related entities and fiscal years, which impacted the timely finalization of the audit and submission of the required audit and submission of the required reporting package. Hence, the Single Audit reporting deadline was not met. Cause: The delay was primarily caused by the need to perform additional reconciliation procedures across interrelated entities with differing fiscal year ends, which extended the preparation and review process of the financial statements and audit deliverables. Additionally, the Organization experienced turnover in key finance personnel during the year, which affected the pace of audit coordination and document retrieval. Effect: The Organization failed to submit the Single Audit reporting package for the year ended June 30, 2024 on time. Questioned costs: None Views of Responsible Officials and Planned Corrective Actions: The Organization acknowledges the delay in the submission of the Single Audit reporting package and has taken steps to prevent future occurrences. Specifically: • The Organization has implemented a revised audit timeline that includes earlier kickoff dates, stricter internal deadlines for submission of audit schedules, and enhanced monitoring of milestone progress. • Cross-entity coordination procedures have been formalized to improve efficiency when consolidating information involving related parties. • Additional training has been provided to the finance team on audit readiness and Single Audit compliance requirements.