FAC Explorer

Audit 404675

FY End
2025-09-30
Total Expended
$7.36M
Findings
2
Programs
1
Organization: Catherine Booth Residence Inc., A North Carolina Corporation (NC)
Year: 2025 Accepted: 2026-06-24
Auditor: COHNREZNICK LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1218372 2025-001 Material Weakness Yes L
1218373 2025-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $7.12M Yes 1

Contacts

Name Title Type
NWYMBDE6MYD7 Roland Cox Auditee
4047286700 Amy Blocker Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal award activity of Catherine Booth Residence, Inc., a North Carolina Corporation, HUD Project No. 053-EE13, under programs of the federal government for the year ended September 30, 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of Catherine Booth Residence, Inc., a North Carolina Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Catherine Booth Residence, Inc., a North Carolina Corporation. For the year ended September 30, 2024, no awards were passed through to subrecipients.
Catherine Booth Residence, Inc., a North Carolina Corporation has received a U.S. Department of Housing and Urban Development direct capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Catherine Booth Residence, Inc., a North Carolina Corporation received no additional loans or capital advances during the year. The balance of the capital advance outstanding at September 30, 2025 consists of: See the Notes to the SEFA for chart/table

Finding Details

Finding 2025-001
Department of Housing and Urban Development Finding 2025-001 Section 8 New Construction and Substantial Rehabilitation, AL 14.182 and Section 223(f) Mortgage Insurance Program AL 14.155 Criteria The FAC requires that the annual financial statements be submitted the earlier of 30 days after the report date or nine months after the fiscal year end. Statement of Condition The Single Audit was not submitted to the Federal Audit Clearinghouse (FAC) within nine months after the fiscal year end of the Company for the year ended September 30, 2024. Cause Management does not have controls in place to timely file its financial statements with the FAC. Effect or Potential Effect Management is not in compliance with the requirement to timely submit the Single Audit to the FAC. Questioned costs: None Context Due to delays in the performance of the September 30, 2024 audit, the FAC submission was also delayed. Identification as a repeat finding: No Recommendation Management should implement procedures to ensure that the financial statements are submitted to the FAC in accordance with the FAC filing requirements. Auditor Noncompliance Code: Z - Other Reporting Views of Responsible Officials Management agrees with the finding and is taking steps to address the issue that caused it.