FAC Explorer

Audit 371056

FY End
2024-12-31
Total Expended
$1.89M
Findings
1
Programs
2
Organization: Houston Sro Housing Corporation (TX)
Year: 2024 Accepted: 2025-10-21
Auditor: PITTSFORD SAMUELS PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1161073 2024-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
14.241 HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS $308,943 Yes 0
14.249 SECTION 8 MODERATE REHABILITATION SINGLE ROOM OCCUPANCY $278,021 Yes 0

Contacts

Name Title Type
NZLCWXZFDAZ3 Linda Holder Auditee
7135269470 Nancy Mack Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal grant activity of Houston SRO Housing Corporation, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of Houston SRO Housing Corporation, it is not intended to and does not present the financial position, changes in net assets or cash flows of Houston SRO Housing Corporation.
Expenditures reported in 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 reimbursements.
The Project has received a loan under HUD's Housing Opportunities for Persons with AIDS Program in 1998. The loan balance at the beginning of the year is included in the schedule of expenditures of federal awards The Project has received no additional funds during the year. The loan balance is reported as net assets with donor restrictions in the statement of financial position at December 31, 2024.
The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Findings reference number: 2024-001 - title and AL Number of Federal Program: Housing Opportunities for Persons with AIDS , AL 14.241 - Type of finding: Federal Award - Resolution Status: In process - Population size: N/A - Sample size: N/A - Repeat finding: No - Criteria: Reports to the federal government must be filed by the due date and should include all Federal assistance. - Condition: The data collection form (DCF) is due 30 days after the financial statement audit is received or 180 days after the fiscal year end. DCF for the year ended December 31, 2024 was filed late. - Cause: The audit was completed 180 days after the fiscal year end. - Effect: The DCF has not been filed timely. - Noncompliance code: L - Reporting. - Questioned costs: N/A. - Reporting views of officials: Auditee agrees with the finding. - Contract Number: N/A - Context: Management had some turnover in key personnel and moved its office to a new location. The new location required certain improvements. This process delayed the accounting work that was needed to complete the audit by the due date. Additionally, one of the contracts ended in July 2025, and management no longer had access to certain documents required for the audit, which caused delays. - Recommendation: Procedures should be set in place to ensure timely completion of the audit and submissions of all required reports. - Auditors' summary of auditee's comments: They are in agreement.