FAC Explorer

Audit 367580

FY End
2025-06-30
Total Expended
$1.61M
Findings
1
Programs
2
Organization: Pioneer Apartments INC (WY)
Year: 2025 Accepted: 2025-09-25
Auditor: Core CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1155343 2025-002 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
10.427 Rural Rental Assistance Payments $135,645 Yes 0
10.415 Rural Rental Housing Loans $32,607 Yes 0

Contacts

Name Title Type
YH6GPJPGDMN6 Margaret Richards Auditee
6056420619 Jake Klabenes Auditor
No contacts on file

Notes to SEFA

Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Rural rental housing loans were distributed to Pioneer Apartments, Inc. The funds were used to construct the rental units. The funds advanced are repayable to the U.S. Department of Agriculture – Rural Development. The balance of the loans at June 30, 2025, was $1,421,808 .

Finding Details

Finding 2025-002
FINDING 2025-002: Material Weakness in Internal Control over Compliance – Reserve Drawdowns Federal Award Identification Assistance Listing Program Title: Rural Rental Housing Loans Assistance Listing Program Number: 10.415 Federal Award ID Number and Year: N/A Federal Agency: U.S. Department of Agriculture – Rural Development Compliance Requirements: L – Reporting Criteria: See Finding 2025-001 Condition: See Finding 2025-001 Repeat Finding: No Questioned Costs: $3,510 Statistical Sample: No Context: See Finding 2025-001 Effect or Potential Effect: See Finding 2025-001 Cause: See Finding 2025-001 Recommendation: See Finding 2025-001 Auditee Response/ Corrective Action Plan: See page 42.