Audit 37949

FY End

2022-09-30

Total Expended

$1.79M

Findings

4

Programs

2

Organization: A.c. Ware Housing Development Fund Company, Inc. (NY)

Year: 2022 Accepted: 2023-02-13

Auditor: Efpr Group Cpa's PLLC

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
39659	2022-001	-	-	N
39660	2022-001	-	-	N
616101	2022-001	-	-	N
616102	2022-001	-	-	N

ALN	Program	Spent	Major	Findings
14.157	Supportive Housing for the Elderly	$89,648	Yes	1
14.239	Home Investment Partnerships Program	$65,000	-	0

Contacts

Name	Title	Type
QKNBQ9F5SGF6	Andrea Mays	Auditee
7168542972	Robert Williams, CPA	Auditor
No contacts on file

Notes to SEFA

Title: Capital Advance Accounting Policies: The information 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 (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The Company does not use the 10% de minimis election. The amount reported for Assistance Listing Number 14.157 in expenditures relate to U.S.Department of Housing and Urban Development - Supportive Housing for the Elderly - Section 202 Capital Advance Program. The ending balance of the capital advance is $1,635,267 at September 30, 2022. The amount of $65,000 reported for Assistance ListingNumber 14.239 in expenditures related to a Buffalo Urban Personal Agency Home Investment Partnership Program mortgage. The ending balance of this loan is $65,000 at September 30, 2022.

Finding Details

Finding 2022-001

Condition - The reserve for replacements account is underfunded by $10,850 for the year ended September 30, 2022. Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157- Supportive Housing for the Elderly, the Company was required to deposit $10,850 in a reserve for replacements account for the year ended September 30, 2022. Effect - The Company was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Recommendation - We recommend that the delinquent deposit totaling $10,850 for the year ended September 30, 2022 be deposited into the reserve for replacements account as soon as possible. Management?s Reply - (1) Finding 2022-001 (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management has deposited the underfunded amount of $10,850 into the reserve for replacements account on December 19, 2022.

Finding 2022-001

Condition - The reserve for replacements account is underfunded by $10,850 for the year ended September 30, 2022. Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157- Supportive Housing for the Elderly, the Company was required to deposit $10,850 in a reserve for replacements account for the year ended September 30, 2022. Effect - The Company was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Recommendation - We recommend that the delinquent deposit totaling $10,850 for the year ended September 30, 2022 be deposited into the reserve for replacements account as soon as possible. Management?s Reply - (1) Finding 2022-001 (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management has deposited the underfunded amount of $10,850 into the reserve for replacements account on December 19, 2022.

Finding 2022-001

Condition - The reserve for replacements account is underfunded by $10,850 for the year ended September 30, 2022. Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157- Supportive Housing for the Elderly, the Company was required to deposit $10,850 in a reserve for replacements account for the year ended September 30, 2022. Effect - The Company was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Recommendation - We recommend that the delinquent deposit totaling $10,850 for the year ended September 30, 2022 be deposited into the reserve for replacements account as soon as possible. Management?s Reply - (1) Finding 2022-001 (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management has deposited the underfunded amount of $10,850 into the reserve for replacements account on December 19, 2022.

Finding 2022-001

Condition - The reserve for replacements account is underfunded by $10,850 for the year ended September 30, 2022. Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157- Supportive Housing for the Elderly, the Company was required to deposit $10,850 in a reserve for replacements account for the year ended September 30, 2022. Effect - The Company was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Recommendation - We recommend that the delinquent deposit totaling $10,850 for the year ended September 30, 2022 be deposited into the reserve for replacements account as soon as possible. Management?s Reply - (1) Finding 2022-001 (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management has deposited the underfunded amount of $10,850 into the reserve for replacements account on December 19, 2022.