FAC Explorer

Audit 405403

FY End
2026-03-31
Total Expended
$3.87M
Findings
1
Programs
1
Organization: Asi Freeport, Inc. (MN)
Year: 2026 Accepted: 2026-06-29
Auditor: BAKER MEINZ & ASSOCIATES LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1220319 2026-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $131,384 Yes 0

Contacts

Name Title Type
VKF7DRESA2Y1 Les Russo Auditee
8474245601 Brian Baker Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal award activity of ASI Freeport, Inc., HUD Project No. 071-HD175, 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 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 ASI Freeport, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of ASI Freeport, Inc.
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. ASI Freeport, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
There are no HUD loans in this Project.

Finding Details

Finding 2026-001
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FINDING 2026-001: SECTION 811, ASSISTANCE LISTING NUMBER 14.181 Condition: One of the tenant files tested did not contain a copy of the tenant's disability verification. Criteria: The tenant file should contain a copy of the tenant's disability verification. Effect: There is no financial effect. Context: A sample of tenant files was selected to ensure that proper documentation was included. The test found that one of the files tested was not in compliance. The non-compliance did not have a financial effect. The details and results of the sample are as follows: Population - 22, Dollars - N/A; Sample -3, Dollars - N/A; Not in Compliance - 1, Dollars - N/A; Questioned Costs - None; Cause: A copy of the tenant's disability verification was not obtained and placed into the tenant file. Recommendation: The Project should obtain a copy of the tenant's disability verification and place it in the tenant file. Views of Responsible Officials and Planned Corrective Actions: The Project agrees with the finding. They will remind Project personnel of the importance of obtaining a copy of each tenant's disability verification and placing it in the tenant file. Total-Department of Housing and Urban Development - $0; Non-compliance code: R