FAC Explorer

Audit 39332

FY End
2022-12-31
Total Expended
$901,537
Findings
2
Programs
2
Organization: Rj Gordon (LA)
Year: 2022 Accepted: 2023-09-24
Auditor: Wharton CPA LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
42463 2022-001 Material Weakness - N
618905 2022-001 Material Weakness - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $631,769 Yes 1
14.195 Section 8 Housing Assistance Payments Program $269,768 - 0

Contacts

Name Title Type
E8MGJDDKGGJ1 Dr. Willie Gable Auditee
5045245471 Brendel Wharton Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note 1 Summary of Significant Accounting PoliciesBasis of Presentation - This schedule includes the activity of NBC Housing, Inc. Seven, RJ Gordon and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordancewith the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Indirect Cost Rate RJ Gordon did not use the de minimis cost rate.Loan/Loan Guarantee Outstanding Balance - Supportive Housing f 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 631769.

Finding Details

Finding 2022-001
2022-1 Reserve for Replacement Account Underfunded Condition: The Project did not make the required deposit amounts into the bank account on a monthly basis. Criteria: On August 1, 2021, HUD increased the monthly reserve for replacement amount from $1,095 to $1,120, and increased the deposit amount again on August 1, 2022 from $1,120 to $1,146. As of December 31, 2022, all deposits were still being made at $1,095 each month. Cause: The cause is undeterminable. Effect: The Project is not in compliance with the Regulatory Agreement and the account is underfunded. Recommendation: I recommend the Property make required monthly deposits at the correct amount.
Finding 2022-001
2022-1 Reserve for Replacement Account Underfunded Condition: The Project did not make the required deposit amounts into the bank account on a monthly basis. Criteria: On August 1, 2021, HUD increased the monthly reserve for replacement amount from $1,095 to $1,120, and increased the deposit amount again on August 1, 2022 from $1,120 to $1,146. As of December 31, 2022, all deposits were still being made at $1,095 each month. Cause: The cause is undeterminable. Effect: The Project is not in compliance with the Regulatory Agreement and the account is underfunded. Recommendation: I recommend the Property make required monthly deposits at the correct amount.