FAC Explorer

Audit 38227

FY End
2022-07-31
Total Expended
$1.78M
Findings
2
Programs
2
Organization: Lima Interfaith Senior Housing Corporation (OH)
Year: 2022 Accepted: 2023-04-25
Auditor: Dauby O'Connor & Zaleski LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
41747 2022-001 Significant Deficiency Yes P
618189 2022-001 Significant Deficiency Yes P

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.49M Yes 1
14.195 Section 8 Housing Assistance Payments Program $290,512 - 0

Contacts

Name Title Type
YPF5K5M36H67 Timothy J. Stolly Auditee
4192316957 Jeremy J. Wilson Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate. MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 1415088.

Finding Details

Finding 2022-001
Statement of condition #2022-001: The Corporation did not file the data collection form SF-SAC as of and for the year ended July 31, 2021, with the Federal Audit Clearinghouse by the required date of April 30, 2022. Criteria: Pursuant to Section 18 of the Regulatory Agreement, non-profit borrowers are to follow audit requirements specified in the OMB Compliance Supplement. The OMB Compliance Supplement requires the data collection form SF-SAC to be filed with the Federal Audit Clearinghouse in a timely manner, as required by 2 CFR 200.512. The required timeframe specified by 2 CFR 200.512 is the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. The deadline to file the data collection form SF-SAC was April 30, 2022. Effect: The Corporation was not in compliance with the Regulatory Agreement or the OMB Compliance Supplement. Cause: Due to administrative delays, the Corporation did not file the data collection form SF-SAC by April 30, 2022. Recommendation: The data collection form SF-SAC should be filed with the Federal Audit Clearinghouse in a timely manner pursuant to the time frame set worth by OMB. Proposed completion date: May 4, 2022 Management's response: Management concurs with the finding and agrees with the recommendation. The data collection form SF-SAC as of and for the year ended July 31, 2021, was filed with the Federal Audit Clearinghouse on May 4, 2022. No further action is required.
Finding 2022-001
Statement of condition #2022-001: The Corporation did not file the data collection form SF-SAC as of and for the year ended July 31, 2021, with the Federal Audit Clearinghouse by the required date of April 30, 2022. Criteria: Pursuant to Section 18 of the Regulatory Agreement, non-profit borrowers are to follow audit requirements specified in the OMB Compliance Supplement. The OMB Compliance Supplement requires the data collection form SF-SAC to be filed with the Federal Audit Clearinghouse in a timely manner, as required by 2 CFR 200.512. The required timeframe specified by 2 CFR 200.512 is the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. The deadline to file the data collection form SF-SAC was April 30, 2022. Effect: The Corporation was not in compliance with the Regulatory Agreement or the OMB Compliance Supplement. Cause: Due to administrative delays, the Corporation did not file the data collection form SF-SAC by April 30, 2022. Recommendation: The data collection form SF-SAC should be filed with the Federal Audit Clearinghouse in a timely manner pursuant to the time frame set worth by OMB. Proposed completion date: May 4, 2022 Management's response: Management concurs with the finding and agrees with the recommendation. The data collection form SF-SAC as of and for the year ended July 31, 2021, was filed with the Federal Audit Clearinghouse on May 4, 2022. No further action is required.