FAC Explorer

Audit 380781

FY End
2025-06-30
Total Expended
$31.05M
Findings
1
Programs
8
Organization: Mississippi Home Corporation (MS)
Year: 2025 Accepted: 2026-01-12
Auditor: FORVIS MAZARS LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1168733 2025-002 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
21.026 HOMEOWNER ASSISTANCE FUND $9.54M Yes 1
14.275 HOUSING TRUST FUND $4.14M Yes 0
14.241 HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS $2.61M Yes 0
14.231 EMERGENCY SOLUTIONS GRANT PROGRAM $2.21M Yes 0
21.023 EMERGENCY RENTAL ASSISTANCE PROGRAM $1.50M Yes 0
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $508,284 Yes 0
14.169 HOUSING COUNSELING ASSISTANCE PROGRAM $159,002 Yes 0
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $7,000 Yes 0

Contacts

Name Title Type
Q23XVN4NV7T3 Breanne Hancock Auditee
6017184669 Wil Crawford Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the Corporation under programs of the federal government for the year ended June 30, 2025. 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). Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Corporation.

Finding Details

Finding 2025-002
COVID-19 – Homeowner Assistance Fund Assistance Listing Number 21.026 U.S. Department of Treasury Criteria or Specific Requirement – Reporting – Quarterly Report (PRA 1505-0269); Annual Performance Report (PRA 1505-0269). Both quarterly and annual reports are due approximately one and a half months after the end of the period. Condition – The Corporation did not file the 4th quarter of 2024 Quarterly Report and 2024 Annual Report by established deadlines. Cause – The Corporation’s internal controls did not ensure timely submission of required reports. Effect – The Corporation did not file the 4th quarter of 2024 Quarterly Report and 2024 Annual Report by established deadlines, but the reports were filed. Questioned Costs – N/A Context – Out of a sample of two quarterly reports filed during the year and one annual report filed during the year, one of the Corporation’s quarterly reports and the annual report were not submitted either prior to the established due date or extension date provided. Our sample was not designed to be statistically valid. Recommendation – We recommend the Corporation implement policies and procedures to ensure required reports are completed and filed by their respective due dates as required by the grant agreement and Uniform Guidance. Views of Responsible Officials and Planned Corrective Actions – The reports were filed late due to inadequate deadline monitoring. Management will implement procedures to ensure the timely and accurate submission of Homeowner Assistance Fund (HAF) Quarterly and Annual Performance Reports. Reporting deadlines are tracked on the Corporation’s federal reporting and compliance calendar, with oversight by the AVP of Grants Compliance and Reporting, who actively monitors reporting progress and coordinates reconciliation of financial data between the HAF Program Manager and Accounting. The AVP of Grants Compliance and Reporting reviews each completed report for accuracy and completeness, signs and dates the report, and submits it to the SVP of Federal Grants for final review and approval. The HAF Program Manager provides confirmation of successful submission through the U.S. Treasury portal. These procedures will be incorporated into the HAF Program Manual. Anticipated Completion Date: March 31, 2026