FAC Explorer

Audit 38911

FY End
2022-09-30
Total Expended
$769,519
Findings
2
Programs
3
Organization: Housing of Olivia, Inc. (MN)
Year: 2022 Accepted: 2023-05-30
Auditor: Hinrichs & Associates LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
41888 2022-001 - Yes N
618330 2022-001 - Yes N

Programs

ALN Program Spent Major Findings
14.239 Home Investment Partnerships Program $609,061 Yes 1
14.149 Rental Assistance Payments $154,458 - 0
14.195 Covid 19 Supplemental Payment $6,000 - 0

Contacts

Name Title Type
THRAJAXW61L9 Sara Wohlers Auditee
3202696640 Bob Baker Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures 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. Housingof Olivia, Inc. has elected not to use the 10-percent de minimisindirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 594794.

Finding Details

Finding 2022-001
HOUSING OF OLIVIA, INC. HUD PROJECT NO. 092-35132-NP-SUP SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2022 C. Findings and Questioned Costs - Major Federal Award Programs Audit Questioned Costs DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2022-001: SECTION 221 (d)(3), ASSISTANCE LISTING NUMBER 14.239 Condition: The Project did not file the form HUD-93479 "Monthly Report for Establishing Net Income." Criteria: The Project should file this form monthly. Effect: No financial effect. Context: The monthly filing requirement for form HUD-93479 was tested for compliance for the year end September 30, 2022. Number Dollars Population 12 N/A Sample 12 N/A Not in Compliance 12 N/A Questioned Costs None Cause: The new management company was unaware of the monthly filing requirement of form HUD-93479, and unknowingly failed to file the form the last 12 months of the year ended September 30, 2022. Recommendation: The Project should immediately determine the steps necessary to successfully file the form on a monthly basis. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will determine the steps necessary to file this form. Questioned Costs - Department of Housing and Urban Development None Non-compliance code - R
Finding 2022-001
HOUSING OF OLIVIA, INC. HUD PROJECT NO. 092-35132-NP-SUP SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2022 C. Findings and Questioned Costs - Major Federal Award Programs Audit Questioned Costs DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2022-001: SECTION 221 (d)(3), ASSISTANCE LISTING NUMBER 14.239 Condition: The Project did not file the form HUD-93479 "Monthly Report for Establishing Net Income." Criteria: The Project should file this form monthly. Effect: No financial effect. Context: The monthly filing requirement for form HUD-93479 was tested for compliance for the year end September 30, 2022. Number Dollars Population 12 N/A Sample 12 N/A Not in Compliance 12 N/A Questioned Costs None Cause: The new management company was unaware of the monthly filing requirement of form HUD-93479, and unknowingly failed to file the form the last 12 months of the year ended September 30, 2022. Recommendation: The Project should immediately determine the steps necessary to successfully file the form on a monthly basis. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. Management will determine the steps necessary to file this form. Questioned Costs - Department of Housing and Urban Development None Non-compliance code - R