FAC Explorer

Audit 4107

FY End
2023-06-30
Total Expended
$6.29M
Findings
4
Programs
1
Organization: Holy Rosary Senior Residence Inc. (NJ)
Year: 2023 Accepted: 2023-11-27
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
2396 2023-001 Significant Deficiency - A
2397 2023-001 Significant Deficiency - A
578838 2023-001 Significant Deficiency - A
578839 2023-001 Significant Deficiency - A

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $478,428 Yes 1

Contacts

Name Title Type
GCFAKLBSX1L3 John Westervelt Auditee
9735963984 Tara Del Gavio Auditor
No contacts on file

Notes to SEFA

Title: LOAN AND LOAN GUARANTEE PROGRAMS Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of HUD Project No. 031-EE049 of Holy Rosary Senior Residence, Inc. (the Project), 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. SUBRECIPIENTS During the year ended June 30, 2023, the Project did not provide any funds relating to its federal program to subrecipients. De Minimis Rate Used: Y Rate Explanation: During the year ended June 30, 2023, the Project elected to use the de minimis cost rate when allocating indirect costs to its federal program. As of June 30, 2023, $5,813,700 was outstanding on the federal loan program.

Finding Details

Finding 2023-001
Item 2023-001 Failure to Provide Support for Cash Disbursement Condition: During cash disbursement testing the Project was unable to provide support for one out of 40 selections. The Project was unable to substantiate the bookkeeping charge of $10,000 or $833 per month. The HUD approved budget states that the project can charge $9,600 per year or $800 per month. Therefore, the Project charged an additional $400 and was unable to substantiate the additional fee. Criteria: Per HUD regulations all disbursements from the regular operating account must be supported by approved invoices, bills, or other supporting documentation. Cause: The Project charged $400 more in bookkeeping fees than the HUD approved budget amount for bookkeeping fees of $9,600. Effect: The Project not in compliance with HUD regulations for cash disbursements. Recommendation: We recommend that management ensures that all cash disbursements can be supported by approved invoices, bills or other supporting documentation. Auditee Response and Action Plan: Management will ensure that all expenditures can be supported by approved invoices, bills or other supporting documentation.
Finding 2023-001
Item 2023-001 Failure to Provide Support for Cash Disbursement Condition: During cash disbursement testing the Project was unable to provide support for one out of 40 selections. The Project was unable to substantiate the bookkeeping charge of $10,000 or $833 per month. The HUD approved budget states that the project can charge $9,600 per year or $800 per month. Therefore, the Project charged an additional $400 and was unable to substantiate the additional fee. Criteria: Per HUD regulations all disbursements from the regular operating account must be supported by approved invoices, bills, or other supporting documentation. Cause: The Project charged $400 more in bookkeeping fees than the HUD approved budget amount for bookkeeping fees of $9,600. Effect: The Project not in compliance with HUD regulations for cash disbursements. Recommendation: We recommend that management ensures that all cash disbursements can be supported by approved invoices, bills or other supporting documentation. Auditee Response and Action Plan: Management will ensure that all expenditures can be supported by approved invoices, bills or other supporting documentation.
Finding 2023-001
Item 2023-001 Failure to Provide Support for Cash Disbursement Condition: During cash disbursement testing the Project was unable to provide support for one out of 40 selections. The Project was unable to substantiate the bookkeeping charge of $10,000 or $833 per month. The HUD approved budget states that the project can charge $9,600 per year or $800 per month. Therefore, the Project charged an additional $400 and was unable to substantiate the additional fee. Criteria: Per HUD regulations all disbursements from the regular operating account must be supported by approved invoices, bills, or other supporting documentation. Cause: The Project charged $400 more in bookkeeping fees than the HUD approved budget amount for bookkeeping fees of $9,600. Effect: The Project not in compliance with HUD regulations for cash disbursements. Recommendation: We recommend that management ensures that all cash disbursements can be supported by approved invoices, bills or other supporting documentation. Auditee Response and Action Plan: Management will ensure that all expenditures can be supported by approved invoices, bills or other supporting documentation.
Finding 2023-001
Item 2023-001 Failure to Provide Support for Cash Disbursement Condition: During cash disbursement testing the Project was unable to provide support for one out of 40 selections. The Project was unable to substantiate the bookkeeping charge of $10,000 or $833 per month. The HUD approved budget states that the project can charge $9,600 per year or $800 per month. Therefore, the Project charged an additional $400 and was unable to substantiate the additional fee. Criteria: Per HUD regulations all disbursements from the regular operating account must be supported by approved invoices, bills, or other supporting documentation. Cause: The Project charged $400 more in bookkeeping fees than the HUD approved budget amount for bookkeeping fees of $9,600. Effect: The Project not in compliance with HUD regulations for cash disbursements. Recommendation: We recommend that management ensures that all cash disbursements can be supported by approved invoices, bills or other supporting documentation. Auditee Response and Action Plan: Management will ensure that all expenditures can be supported by approved invoices, bills or other supporting documentation.