FAC Explorer

Audit 404684

FY End
2025-09-30
Total Expended
$4.32M
Findings
1
Programs
2
Organization: Booth Residence Inc., A Georgia Corporation (GA)
Year: 2025 Accepted: 2026-06-24
Auditor: COHNREZNICK LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1218417 2025-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $3.38M Yes 1
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM $935,549 Yes 0

Contacts

Name Title Type
TZNVJV2R7J19 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 Booth Residence, Inc., a Georgia Corporation, HUD Project No.: 061-11293, under programs of the federal government for the period October 1, 2024 through September 3, 2025 (day before sale). 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"). For the period October 1, 2024 through September 3, 2025 (day before sale), no awards were passed through to subrecipients.
Booth Residence, Inc., a Georgia Corporation has received a U.S. Department of Housing and Urban Development insured loan under Section 207 pursuant to Section 223(f) pursuant to Section 223(a)(7) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Booth Residence, Inc., a Georgia Corporation received no additional loans during the year. The balance of the loan outstanding at September 3, 2025 (day before sale) consists of: See the Notes to the SEFA for chart/table

Finding Details

Finding 2025-001
Finding No. 2025-001 - Reporting U.S. Department of Housing and Urban Development Federal Program Name: Section 202 Supportive Housing for the Elderly Assistance Listing Number: 14.157 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. Condition: The Single Audit was not submitted to the Federal Audit Clearinghouse (FAC) within nine months after the fiscal year end of the Corporation 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: Management does not have a process in place to ensure that all audits are submitted to the FAC timely. 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 Finding Resolution Status: Resolved Views of Responsible Officials: Management agrees with the finding and is taking steps to address the issue that caused it.