FAC Explorer

Audit 393140

FY End
2025-12-31
Total Expended
$1.56M
Findings
6
Programs
3
Organization: Housing Authority of Portage County (WI)
Year: 2025 Accepted: 2026-03-23
Auditor: KERBERROSE SC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1181850 2025-001 Material Weakness Yes P
1181851 2025-002 Material Weakness Yes P
1181852 2025-001 Material Weakness Yes P
1181853 2025-002 Material Weakness Yes P
1181854 2025-001 Material Weakness Yes P
1181855 2025-002 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
14.871 SECTION 8 HOUSING CHOICE VOUCHERS $1.41M Yes 2
10.415 RURAL RENTAL HOUSING LOANS $91,392 Yes 2
10.427 RURAL RENTAL ASSISTANCE PAYMENTS $59,119 Yes 2

Contacts

Name Title Type
P8THL7ANJNR1 Stacy Cieslewicz Auditee
7153461392 Jamie Rosin Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal award activity of the Housing Authority of Portage County (Authority) under programs of the federal government for the year ended December 31, 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 Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a select portion of the operations of the Authority, it is not intended to, and does not, present the financial position, changes in net position or cash flows of the Authority.
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. The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
At December 31, 2025, Rural Rental Housing Loans had a balance of $90,363.

Finding Details

Finding 2025-001
Criteria:Internal control systems should include personnel with sufficient education, training and/or experience to prepare financial statements in accordance with generally accepted accounting principles (GAAP) including all required disclosures. Condition: Absence of personnel with the sufficient education, training and/or experience to prepare financial statements in accordance with generally accepted accounting principles Cause: Due to the small size of the Authority and the limited number of accounting personnel, no individual is skilled in the preparation of financial statements in accordance with generally accepted accounting principles including all required notes. Effect: During the course of our audit, we prepared the financial statements; however, management of the Authority thoroughly reviewed them and accepted responsibility for their completeness and accuracy. Recommendation: Continue to use the services of the external audit firm to prepare the Authority’s financial statements in accordance with generally accepted accounting principles. Management's Response: The Authority agrees with the finding. It will continue to use its external auditors to prepare its financial statements. Management will continue to thoroughly review and accept responsibility for the completeness and accuracy of the financial statements.
Finding 2025-002
Criteria: The Authority should prepare the schedule of expenditures of federal awards. Condition: The Authority was unable to provide us with a schedule of expenditures of federal awards with the appropriate allocation of funds by ALN and funding source. Cause: Due to the small size of the Authority and the limited number of accounting personnel, no individual is skilled in the preparation of the schedule of expenditures of federal awards. Effect: During the course of our audit, we prepared the schedule of expenditure of federal awards; however, management of the Authority thoroughly reviewed it and accepted responsibility for its completeness and accuracy. Recommendation: Continue to use the services of the external audit firm to prepare the Authority’s schedule of expenditures of federal awards in accordance with generally accepted accounting principles. Management's Response: The Authority agrees with the finding. It will continue to use its external auditors to prepare the schedule of expenditures of federal awards. Management will continue to thoroughly review and accept responsibility for the completeness and accuracy of the schedule of expenditures of federal awards.