FAC Explorer

Audit 375329

FY End
2025-08-31
Total Expended
$3.48M
Findings
3
Programs
3
Organization: Mountain View Housing, INC (NC)
Year: 2025 Accepted: 2025-12-17
Auditor: RAY BUMGARNER KINGSHILL & ASSOC P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1165088 2025-002 Material Weakness Yes P
1165089 2025-002 Material Weakness Yes P
1165090 2025-002 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
10.415 RURAL RENTAL HOUSING LOANS $3.07M Yes 1
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $241,765 Yes 1
10.427 RURAL RENTAL ASSISTANCE PAYMENTS $168,714 Yes 1

Contacts

Name Title Type
LFAJCE4ND6G7 Wendy Duckett Auditee
8286483565 Alisa Brown Auditor
No contacts on file

Notes to SEFA

RRH LOANS (10.415) - BALANCES OUTSTANDING AT THE END OF THE AUDIT PERIOD WERE $2,943,945

Finding Details

Finding 2025-002
Rural Rental Housing Loan Program Cluster: Rural Rental Housing Loans, AL #10.415 – Year ended August 31, 2025 Rural Rental Assistance Payments, AL #10.427 – Year ended August 31, 2025 Project Based Rental Assistance Program, AL #14.195 – Year ended August 31, 2025 Condition: Due to the size of the organization, there are not enough employees to adequately segregate incompatible duties. Criteria: No individual should have access to the performing, recording and reconciling of any one type of transaction. Cause: Organizational limitations do not allow the hiring of additional employees. Effect: Because of the lack of segregation of duties, it is possible for an employee to misappropriate funds and conceal the transaction. Context: All loans and rental assistance payments in this cluster were selected for audit testing. Auditor’s Recommendation: Because it is neither practical nor cost-efficient to have additional employees, the Board should continue to approve expenditures, sign checks, and periodically review the financial statements. This is a repeat finding. Views of Responsible Officials: We concur with the recommendation.