FAC Explorer

Audit 371532

FY End
2025-06-30
Total Expended
$1.62M
Findings
1
Programs
1
Organization: Asi Rochester, Inc. (MN)
Year: 2025 Accepted: 2025-10-30
Auditor: BAKER MEINZ & ASSOCIATES LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1161644 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $99,872 Yes 0

Contacts

Name Title Type
L3N9KLE8SEN9 Ling Han Auditee
6516457271 Brian Baker Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal award activity of ASI Rochester Incorporated, HUD Project No. 092-HD057, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of ASI Rochester Incorporated, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ASI Rochester Incorporated.
Expenditures reported on 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 reimbursement. ASI Rochester Incorporated has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
There are no HUD loans in this Project.

Finding Details

Finding 2025-001
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2025-001: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 Condition: The Project's security deposit liability account was underfunded at June 30, 2025. Criteria: The Project should have a security deposit cash balance in excess of the security deposit liability balance. Effect: The security deposit account was underfunded by $522. Context: The security deposit funding was tested at June 30, 2025. No sample was tested. Questioned costs - None; Cause: Management failed to recognize that the security deposit liability account was underfunded at June 30, 2025. Recommendation: The Project should carefully review the statement of financial position to make sure the security deposit liability account is funded. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will be reminded to review the tenant security deposit cash balance versus the security deposit liabilty balance on a monthly basis. Total-Department of Housing and Urban Development - None; Non-compliance code - M