FAC Explorer

Audit 372054

FY End
2024-12-31
Total Expended
$804,342
Findings
1
Programs
3
Organization: Floresville Housing Authority (TX)
Year: 2024 Accepted: 2025-11-12
Auditor: BURTON MCCUMBER & LONGORIA LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1162236 2024-003 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.871 SECTION 8 HOUSING CHOICE VOUCHERS $381,772 Yes 1
14.872 PUBLIC HOUSING CAPITAL FUND $252,573 Yes 0
14.850 PUBLIC HOUSING OPERATING FUND $169,997 Yes 0

Contacts

Name Title Type
HTCQHFHNSNB5 Sharon Boester Auditee
8303936560 Lizandro Garcia Auditor
No contacts on file

Notes to SEFA

The Information in the accompanying Schedule of Expenditures of Federal Awards (“SEFA”) for the Authority is presented in accordance with the requirements of Title 2. U.S. Code of Federal Regulations Part 200, Uniform Guidance Requirements Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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 SEFA for the Authority is presented 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.
The Authority does not utilize the de minimums 10% indirect cost rate. All cost incurred was charged directly to the federal award.
There were no subrecipients in the current year.
During the year ended December 31, 2024, the Authority did not have any non-cash, loans and loan guarantees, and federally funded insurance

Finding Details

Finding 2024-003
24 CFR Section 982.156(a) states that "Unless otherwise required or permitted by HUD, all program recepients must be promptly deposited with a financial institution selected as depositary by the PHA in accordance with HUD requirements. "The PHA must enter into an agreement with the depositary in the form required by HUD" 24 CFR Section 982.156(c). Depository agreements serve as safeguards for federal funds and provide third party rights to HUD. During our audit, we noted that the Authority did not have executed depository agreements in place with the financial institutions holding federal grant funds, as required by the applicable Compliance Supplement and the terms of the Housing Voucher Cluster grant.