FAC Explorer

Audit 40857

FY End
2022-09-30
Total Expended
$4.39M
Findings
2
Programs
4
Organization: St. Mary's Manor for Senior Citizen Housing Development Fund Company, Inc. (NY)
Year: 2022 Accepted: 2023-01-19
Auditor: Metis Group LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
46122 2022-001 - - P
622564 2022-001 - - P

Programs

ALN Program Spent Major Findings
14.195 Section 8 Housing Assistance Payments $2.62M Yes 1
14.157 Section 202 Direct Loan $1.71M - 0
14.191 Service Coordinator Grant $57,927 - 0
14.195 Covid-19 Supplemental Payment $1,564 Yes 0

Contacts

Name Title Type
GGJJWQ417NC4 Richard Balcom Auditee
5167337032 Satang Janneh Auditor
No contacts on file

Notes to SEFA

Title: Mortgage Payable Accounting Policies: The accompanying schedule of expenditures of federal awards (the 'Schedule') includes the federal award activity of St. Mary's Manor for Senior Citizen Housing Development Fund Company, Inc. (the 'Project') under programs of the federal government for the year ended September 30, 2022. 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 the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project. De Minimis Rate Used: N Rate Explanation: 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. The Project has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Project has received a U.S. Department of Housing and Urban Development mortgage loan under Section 202 of the National Housing Act. The mortgage loan balance outstanding at the beginning of the year is included in the total federal expenditures presented in the Schedule. The outstanding mortgage loan balance as of September 30, 2022 was $1,177,470.

Finding Details

Finding 2022-001
Finding 2022-001 Criteria: In accordance with their Regulatory Agreement with HUD, the Project must receive a physical inspection score of 60 or above to be in compliance with the agreement. Condition: The Project received a score below 60 on their annual physical inspection of the property. Cause: On October 27, 2021, HUD performed a physical inspection of the property in which they received a score of 54c. This score indicates that there are deficiencies in the maintenance of the Project. Effect or Potential Effect: The Project may not be in compliance with its Regulatory Agreement if a corrective action plan is not implemented. Recommendations: Management should have a corrective action plan to address all deficiencies identified in the physical inspection report. Views of Responsible Officials: Management strongly disagreed with the inspection findings and filed an appeal which was subsequently denied. Management has remedied all alleged deficiencies identified in the physical inspection as of May 2, 2022 and is awaiting their next physical inspection which is scheduled for January 2023.
Finding 2022-001
Finding 2022-001 Criteria: In accordance with their Regulatory Agreement with HUD, the Project must receive a physical inspection score of 60 or above to be in compliance with the agreement. Condition: The Project received a score below 60 on their annual physical inspection of the property. Cause: On October 27, 2021, HUD performed a physical inspection of the property in which they received a score of 54c. This score indicates that there are deficiencies in the maintenance of the Project. Effect or Potential Effect: The Project may not be in compliance with its Regulatory Agreement if a corrective action plan is not implemented. Recommendations: Management should have a corrective action plan to address all deficiencies identified in the physical inspection report. Views of Responsible Officials: Management strongly disagreed with the inspection findings and filed an appeal which was subsequently denied. Management has remedied all alleged deficiencies identified in the physical inspection as of May 2, 2022 and is awaiting their next physical inspection which is scheduled for January 2023.