FAC Explorer

Audit 370029

FY End
2024-12-31
Total Expended
$3.80M
Findings
1
Programs
5
Organization: Manhattan Housing Authoirty (KS)
Year: 2024 Accepted: 2025-09-30
Auditor: Novogradac & Company LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1158088 2024-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.871 Section 8 Housing Choice Vouchers $1.76M Yes 1
14.850 Public Housing Operating Fund $873,861 Yes 0
14.872 Public Housing Capital Fund $629,808 Yes 0
17.274 Youthbuild $404,295 Yes 0
14.239 Home Investment Partnerships Program $139,252 Yes 0

Contacts

Name Title Type
GL39Y67KZF31 Patrick O'Neil Auditee
7857768588 Robert Bennett Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the Authority under programs of the federal government for the year ended December 31, 2024. 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 operations of the Authority, it is not intended to and does not present the net position, changes in net position or cash flows of the Authority. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Authority has not elected to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
The total amounts of Capital Fund Program Costs and Advances incurred and earned by the Authority as of and for the year ended December 31, 2024 are provided herein: 501-20 501-21 501-22 501-23 501-24 Totals Budget $ 471,323 $ 496,116 $ 612,917 $ 612,889 $ 638,506 $ 2,831,751 Advances: Cumulative through 12/31/2023 $ 380,579 $ 309,884 $ 327,675 $ - $ - $ 1,018,138 Current Year 61,400 25,048 24,926 307,124 159,626 578,124 Cumulative through 12/31/2024 441,979 334,932 352,601 307,124 159,626 1,596,262 Costs: Cumulative through 12/31/2023 380,579 309,884 327,675 - - 1,018,138 Current Year 61,400 40,946 24,926 325,532 177,004 629,808 Cumulative through 12/31/2024 441,979 350,830 352,601 325,532 177,004 1,647,946 Excess / (Deficiency) $ - $ (15,898) $ - $ (18,408) $ (17,378) $ (51,684)

Finding Details

Finding 2024-001
Finding 2024-001 Criteria: The Authority did not maintain adequate internal controls over financial reporting. Condition: During audit testing we noted the following:  The Authority recorded a prior period adjustment in order to correct misstatements of deferred inflows of resources and leases receivable.  Numerous adjusting entries were required to present the Authority's financial statements in accordance with GAAP. Cause: Controls were not fully executed to ensure that the Authority recorded and reported financial data consistently and reliably in accordance with generally accepted accounting principles. Effect: The Authority required an immoderate number of adjustments in order to report accurate results in accordance with generally accepted accounting principles. Auditors' Recommendation: We recommend the Authority implement their internal controls; specifically, the Authority should ensure they are performing monthly procedures whereby financial statements and general ledger accounts are reviewed for accuracy and reconciled to their subsidiary ledgers. Authority Response and Planned Corrective Action: The Authority agrees with the findings and is in process of assessing and modifying internal controls to avoid similar issues. The Authority will reconcile the statement of financial position and other key account balances on an ongoing and periodic basis. The Authority will also reconcile account balances following any large and unusual adjusting entries. Aaron Estabrook, Executive Director, is responsible for implementing this corrective action by December 31, 2025.