Audit 369043

FY End
2024-12-31
Total Expended
$4.76M
Findings
1
Programs
1
Organization: Thf San Gabriel Holdings, LLC (TX)
Year: 2024 Accepted: 2025-09-30

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
1156680 2024-001 Material Weakness Yes P

Programs

Contacts

Name Title Type
ZGGFWJZ5NSH6 Allison Milliorn Auditee
8306938100 James Wolf Auditor
No contacts on file

Notes to SEFA

The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
The Company has elected to not use the 10% de minimis cost rate.
The balance of the mortgage note payable at December 31, 2024 is $4,707,982.

Finding Details

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA N0. 14.155 (Project identification number 115-11311, 2020) Auditor non-compliance code: Z – Other Finding resolution status: Resolved/Unresolved/In Process Universe population size: The universe population size is not applicable to the finding Sample size population: The sample size is not applicable to the finding Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-001: For the year ended December 31, 2024 , the Corporation did not submit the Data Collection Form (SF-SAC) to the Federal Audit Clearinghouse in the time period required by Uniform Guidance Section 2 CFR 200.512. Criteria: Pursuant to Uniform Guidance Section 2 CFR 200.512, the Corporation is required to submit the Data Collection Form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or 9 months after the end of the audit period. Effect: The Corporation is not in compliance with Uniform Guidance Section 2 CFR 200.512. Cause: The Corporation did not submit the Data Collection Form within the required time period due to oversight. Recommendation: The Corporation should submit the Data Collection Form to the Federal Audit Clearinghouse within the required time period. Management's response: Management concurs with the finding and agrees with the auditor's recommendation. The Data Collection Form was submitted to the Federal Audit Clearinghouse on May 10, 2024 and management will submit the Data Collection Form timely going forward.