FAC Explorer

Audit 380649

FY End
2024-12-31
Total Expended
$6.73M
Findings
1
Programs
11
Organization: Tri-County Housing, Inc. Dba Total Concept & Subsidiaries (CO)
Year: 2024 Accepted: 2026-01-09
Auditor: HAYNIE & COMPOANY

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1168670 2024-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
21.026 HOMEOWNER ASSISTANCE FUND $5.52M Yes 1
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $743,127 Yes 0
21.U01 EXPENDABLE AND CAPITAL GRANT $161,000 Yes 0
10.427 RURAL RENTAL ASSISTANCE PAYMENTS $141,864 Yes 0
21.U02 EXPENDABLE AND CAPITAL GRANT $50,000 Yes 0
21.U03 EXPENDABLE AND CAPITAL GRANT $50,000 Yes 0
14.169 HOUSING COUNSELING ASSISTANCE PROGRAM $22,529 Yes 0
14.252 SECTION 4 CAPACITY BUILDING FOR COMMUNITY DEVELOPMENT AND AFFORDABLE HOUSING $20,801 Yes 0
21.U04 HOUSING STABILITY GRANT $11,482 Yes 0
21.U06 INVESTMENT GRANT $5,500 Yes 0
21.U05 NEIGHBORHOODWORKS WEEK GRANT $1,000 Yes 0

Contacts

Name Title Type
FGZNP3B6BJJ6 Steven Cordova Auditee
7194693395 Brent Stratton Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the Tri-County Housing, Inc. dba Total Concept 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The purpose of the Schedule is to present a summary of those activities of Tri-County Housing, Inc. dba Total Concept for the year ended December 31, 2024, which have been financed by the U.S. Government. For purposes of the Schedule, federal awards include all federal assistance entered into directly and indirectly between Tri-County Housing, Inc. dba Total Concept and the federal government.
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.
Federal grants received by Tri-County Housing, Inc. dba Total Concept are subject to review and audit by grantor agencies. The Organization’s management believes that the results of such audits will not have amaterial effect on the Schedule.
Tri-County Housing, Inc. dba Total Concept did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Tri-County Housing, Inc. dba Total Concept does not participate with any subrecipient organizations for the administration or performance of its federal programs.
The following is a reconciliation of the government grants per the financial statements at December 31, 2024 to the schedule; Amount Federal and state grants per financial statements $ 7,048,394 Less: Federal and state grants not from federal grantors (263,951) Other federal and state grants not from federal grantors (52,849) Federal and state grants reported on SEFA $ 6,731,594

Finding Details

Finding 2024-001
Finding 2024-01 Finding Resolution Status: Resolved Condition: The auditee did not submit the required reporting package, including the audited financial statements and Data Collection Form (SF-SAC), to the Federal Audit Clearinghouse within nine months after the end of the fiscal year, as required by 2 CFR § 200.512(a). Criteria: In accordance with 2 CFR § 200.512(a), non-federal entities that expend $750,000 or more in federal awards during the fiscal year must submit the reporting package to the FAC no later than nine months after the end of the audit period. Timely submission ensures transparency and allows federal agencies to evaluate compliance and financial integrity. Cause: The delay in submission was due to internal administrative oversight and lack of a formalized deadline monitoring process for federal reporting obligations. Effect or Potential Effect: Failure to submit the reporting package in a timely manner constitutes noncompliance with Uniform Guidance requirements. This may affect the entity’s eligibility for future federal funding and could result in sanctions or increased oversight by funding agencies. Questioned costs: None. This finding relates to reporting noncompliance and not to disallowed costs. Recommendations: We recommend that the auditee implement a formal compliance calendar or tracking system to monitor federal reporting deadlines. Management should designate a responsible individual to ensure that all reporting packages are submitted on time in accordance with Uniform Guidance requirements. Reporting views of responsible officials: Management agrees with the finding. The delay was unintentional and due to internal miscommunication. The Organization has since created a compliance calendar and assigned the Finance Director to oversee federal reporting compliance to ensure timely submissions in the future. Concur or do not concur with this finding: Concur.