FAC Explorer

Audit 364964

FY End
2024-12-31
Total Expended
$1.66M
Findings
2
Programs
1
Organization: Cascade Meadows Senior Apartments (OR)
Year: 2024 Accepted: 2025-08-26
Auditor: Loveridge Hunt & CO PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
574682 2024-001 Significant Deficiency - E
1151124 2024-001 Significant Deficiency - E

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $29,632 Yes 0

Contacts

Name Title Type
Q177F9RZD7H1 Karen Long Auditee
5412965462 Hani Morcos Auditor
No contacts on file

Notes to SEFA

Title: Basis of Preparation 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 OMB Circular A-122 and Uniform Guidance. The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the 10 percent 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 Cascade Meadows Senior Apartments (the Organization) under programs of federal government for the year ended December 31, 2024. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operation 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: Section 202 Capital Advance 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 OMB Circular A-122 and Uniform Guidance. The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. At December 31, 2024, Cascade Meadows Senior Apartments had the following Section 202 capital advance funds which are presented within net assets with donor restrictions. The capital advance is included in the federal expenditures presented. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were $1,633,800.
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 OMB Circular A-122 and Uniform Guidance. The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. There were no federal awards passed through to Subrecipients.

Finding Details

Finding 2024-001
Title and Assistance Listing Number of Federal Program: 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: In process Information on Universe and Population Size: Population is the 12 tenants receiving HAP. Sample Size Information: 3S3800-050 Context: During our tests of compliance over the program, the documentation to support income and deductions were not timely available and appear to have been obtained subsequent to the auditor's inquiry. Recommendation: We recommend that the Organization have an internal review of the tenant files. Auditor's Summary of Auditee's Comments on the Findings and Recommendations: Management agrees with the auditor. Response Indicator: Agree Completion Date: 7/31/2025 Response: Management agreed with the finding and has implemented a corrective action plan. Identification of Repeat Finding and Finding Reference Number: N/A Criteria: Supportive Housing for the Elderly (Section 202) requires the Owners must include verification documentation in the tenant file. Statement of Condition: During our tests of compliance over the program, we noted two tenant files that did not have appropriate documentation at the time of our review of tenant files. Subsequent to field work, management was able to obtain the necessary documentation and share it with us to verify that income and deductions are properly calculated and documented. Cause: One of the tenant was a move-in so EIV documentation was not available until 90 days after move in and documentation was not saved with the tenant file. Another tenant, their medical expenses was not obtained timely due to having a paper receipt; management was able to receive a screen shot of the purchase of eyeglasses. Effect or Possible Effect and Perspective: Management did not obtain documentation in a timely manner. Auditor Non-Compliance Code: R - Section 8 program administration Questioned Costs: N/A. Reporting Views of Responsible Officials: Please identify the property(s) and associated questioned costs this finding applies to: Cascade Meadows Senior Apartments FHA/Contract Number: 126EE064
Finding 2024-001
Title and Assistance Listing Number of Federal Program: 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: In process Information on Universe and Population Size: Population is the 12 tenants receiving HAP. Sample Size Information: 3S3800-050 Context: During our tests of compliance over the program, the documentation to support income and deductions were not timely available and appear to have been obtained subsequent to the auditor's inquiry. Recommendation: We recommend that the Organization have an internal review of the tenant files. Auditor's Summary of Auditee's Comments on the Findings and Recommendations: Management agrees with the auditor. Response Indicator: Agree Completion Date: 7/31/2025 Response: Management agreed with the finding and has implemented a corrective action plan. Identification of Repeat Finding and Finding Reference Number: N/A Criteria: Supportive Housing for the Elderly (Section 202) requires the Owners must include verification documentation in the tenant file. Statement of Condition: During our tests of compliance over the program, we noted two tenant files that did not have appropriate documentation at the time of our review of tenant files. Subsequent to field work, management was able to obtain the necessary documentation and share it with us to verify that income and deductions are properly calculated and documented. Cause: One of the tenant was a move-in so EIV documentation was not available until 90 days after move in and documentation was not saved with the tenant file. Another tenant, their medical expenses was not obtained timely due to having a paper receipt; management was able to receive a screen shot of the purchase of eyeglasses. Effect or Possible Effect and Perspective: Management did not obtain documentation in a timely manner. Auditor Non-Compliance Code: R - Section 8 program administration Questioned Costs: N/A. Reporting Views of Responsible Officials: Please identify the property(s) and associated questioned costs this finding applies to: Cascade Meadows Senior Apartments FHA/Contract Number: 126EE064