FAC Explorer

Audit 371202

FY End
2025-06-30
Total Expended
$789,377
Findings
1
Programs
2
Organization: South Fork Retirement Center, Inc. (IN)
Year: 2025 Accepted: 2025-10-23
Auditor: DONOVAN PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1161282 2025-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $748,500 Yes 1
14.856 LOWER INCOME HOUSING ASSISTANCE PROGRAM_SECTION 8 MODERATE REHABILITATION $40,877 Yes 0

Contacts

Name Title Type
NDV8ZA262PF8 Tara Smith Auditee
6065935870 David Lemler Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal granting activity of South Fork Retirement Center, Inc. HUD Project 083-EE056-NP-WAH (South Fork) 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. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
The accompanying schedule of expenditures of federal awards includes the capital advance outstanding at July 01, 2024 of $748,500. During the year ended June 30, 2025, principal payments of $0 were paid on the capital advance. At June 30, 2025, the loan balance outstanding is $748,500.
South Fork elected to not use the 10% de minimis indirect cost rate as covered in section 200.414 of the Uniform Guidance for Federal Awards. Instead of electing a 10% de minimis indirect cost rate, South Fork has a HUD-approved management agreement allowing a percent of defined gross revenues or per unit per month fee to cover administrative fees as set forth in the agreement.

Finding Details

Finding 2025-001
Finding 2025-001 – Filing Annual Reports Timely Finding Resolution Status: In process. Information on Universe and Population Size: This is not applicable. Sample Size Information: This is not applicable. Noncompliance Information: This is not applicable. Statement of Condition: South Fork violated the single audit requirements by not filing the Single Audit Data Collection Form (SF-SAC) to the Federal Audit Clearinghouse in a timely manner. South Fork assumed that filing the audited financials to Real Estate Assessment Center (REAC) was sufficient in being in compliance. Criteria: When there are federal expenditures that exceed the amount of $750,000, the SF-SAC must be filed in a timely manner to ensure compliance with reporting requirements. Effect or Potential Effect: South Fork is in violation with the Federal Audit Clearinghouse guidelines. Cause: Unaware of Federal Audit Clearinghouse filing requirements. South Fork was only aware of filing the audited financial statements to REAC. Recommendation: South Fork will file the current year audited financials with the SF-SAC to the Federal Audit Clearinghouse. Auditor Noncompliance Information: Z – Other. Questioned Costs: $0 Reporting Views of Responsible Officials: South Fork filed the 2025 audited financial statements with the Federal Audit Clearinghouse to be back in compliance. Concur or Do Not Concur with This Finding: Concur. Agree or Disagree with Auditor Recommendations: Agree. Completion Date: June 30, 2025 Actions Taken or Plan on the Finding: South Fork filed the 2025 audited financial statements with the Federal Audit Clearinghouse and will continue to do so when required.