FAC Explorer

Audit 41227

FY End
2022-06-30
Total Expended
$1.30M
Findings
4
Programs
1
Organization: Ottawa River Estates, Inc. 042-Hd072 (OH)
Year: 2022 Accepted: 2023-05-10
Auditor: Gilmore Jasion Mahler LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
47972 2022-001 Significant Deficiency - N
47973 2022-001 Significant Deficiency - N
624414 2022-001 Significant Deficiency - N
624415 2022-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $1.24M Yes 1

Contacts

Name Title Type
W9AGSKZPG1W6 Rachel Grup Auditee
4192449609 Alex Spieker Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principle contain in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1237000.

Finding Details

Finding 2022-001
The findings are evaluated from the regulatory and HUD guidelines. The Project did not complete a required deposit timely to the residual receipts reserve in 2021. This was caused by the deposit not being completed timely as a result of an oversight. The residual receipts reserve was underfunded by $3,901 for the year ended June 30, 2022. Management has completed the required deposit to the residual receipts of $3,901 in September 2022.
Finding 2022-001
The findings are evaluated from the regulatory and HUD guidelines. The Project did not complete a required deposit timely to the residual receipts reserve in 2021. This was caused by the deposit not being completed timely as a result of an oversight. The residual receipts reserve was underfunded by $3,901 for the year ended June 30, 2022. Management has completed the required deposit to the residual receipts of $3,901 in September 2022.
Finding 2022-001
The findings are evaluated from the regulatory and HUD guidelines. The Project did not complete a required deposit timely to the residual receipts reserve in 2021. This was caused by the deposit not being completed timely as a result of an oversight. The residual receipts reserve was underfunded by $3,901 for the year ended June 30, 2022. Management has completed the required deposit to the residual receipts of $3,901 in September 2022.
Finding 2022-001
The findings are evaluated from the regulatory and HUD guidelines. The Project did not complete a required deposit timely to the residual receipts reserve in 2021. This was caused by the deposit not being completed timely as a result of an oversight. The residual receipts reserve was underfunded by $3,901 for the year ended June 30, 2022. Management has completed the required deposit to the residual receipts of $3,901 in September 2022.