FAC Explorer

Audit 379091

FY End
2023-06-30
Total Expended
$11.97M
Findings
1
Programs
2
Organization: Hearth Homes of Waterbury, INC (CT)
Year: 2023 Accepted: 2026-01-05
Auditor: BAILEY MOORE GLAZER SCHAEFFER & PROTO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1167797 2023-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $2.04M Yes 0
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $352,843 Yes 0

Contacts

Name Title Type
DRNURLJPEEF5 Sabine Cox Auditee
2032304809 Brian S Borgerson CPA Auditor
No contacts on file

Notes to SEFA

Hearth Homes of Waterbury, Inc. has received a U.S. Department of Housing and Urban Development Section 202 Capital Advance loan and a HOME Investment Partnership Program loan. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the schedule. Hearth Homes of Waterbury, Inc. received no additional loans during the year. The balances of the loans outstanding at June 30, 2023, consist of: Program Name ALN Section 202 Capital Advance 14.157 $ 7,033,500 HOME Investment Partnership Program 14.239 $ 4,587,100

Finding Details

Finding 2023-001
Finding number :2023-001 ALN: 14.157 Supportive Housing for the Elderly Grantor: HUD Questioned Costs$0 Description of Condition: A project is allowed to withdraw money from the replacement reserve account with proper approval from HUD. Condition: The Project requested and received an approval for reimbursement of the same invoice twice. Cause of Condition: Management failed to properly monitor past requests when preparing new requests for withdrawal. Effect of Condition: Replacement reserves are underfunded by $4,134. Recommendations: Funds totaling $4,134 must be returned to the replacement reserves as soon as possible.