FAC Explorer

Audit 38989

FY End
2022-03-31
Total Expended
$1.85M
Findings
2
Programs
2
Organization: Main Street Baptist Manor, Inc. (KY)
Year: 2022 Accepted: 2022-10-17
Auditor: Hicks & Associates CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
42497 2022-001 - - N
618939 2022-001 - - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $1.40M Yes 1
14.195 Section 8 Housing Assistance Payments Program $452,870 - 0

Contacts

Name Title Type
L2NBBJWJVCU9 Jean Peyton Auditee
8592553334 David W. Hicks Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Main Street Baptist Manor, Inc., HUD Project No. 083-11099, 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Section 202 Direct Loan balance as of March 31, 2022 was $1,338,426. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 1338426.

Finding Details

Finding 2022-001
FEDERAL AWARD FINDINGS: 2022-001 Reserve for Replacements Withdrawal CONDITION: Disbursements from HUD approved withdrawal were not made for the approved purposes. CRITERIA: Disbursements from Reserve for Replacements must be for only HUD approved purposes. EFFECT: The Project is not in compliance with award requirements. CONTEXT: Audit procedures that tested disbursements from the Reserve for Replacements revealed disbursements totaling $11,049.90 were not made for HUD approved purposes. CAUSE: A vendor that was to be used for the approved disbursements had to close its operations and, accordingly, was unable to service the Project with window replacements. A second vendor that was to be used for the approved disbursements rescinded its job offer to complete concrete repairs for the Project. As a result, the Project used the funds for other purposes and had not returned the funds back to the Reserve for Replacements as of March 31, 2022.
Finding 2022-001
FEDERAL AWARD FINDINGS: 2022-001 Reserve for Replacements Withdrawal CONDITION: Disbursements from HUD approved withdrawal were not made for the approved purposes. CRITERIA: Disbursements from Reserve for Replacements must be for only HUD approved purposes. EFFECT: The Project is not in compliance with award requirements. CONTEXT: Audit procedures that tested disbursements from the Reserve for Replacements revealed disbursements totaling $11,049.90 were not made for HUD approved purposes. CAUSE: A vendor that was to be used for the approved disbursements had to close its operations and, accordingly, was unable to service the Project with window replacements. A second vendor that was to be used for the approved disbursements rescinded its job offer to complete concrete repairs for the Project. As a result, the Project used the funds for other purposes and had not returned the funds back to the Reserve for Replacements as of March 31, 2022.