FAC Explorer

Audit 42278

FY End
2022-12-31
Total Expended
$2.30M
Findings
2
Programs
1
Organization: Parkway Commons Housing Development Fund Company, Inc. - Resch Commons (NY)
Year: 2022 Accepted: 2023-03-23
Auditor: Freed Maxick CPAS PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
49700 2022-001 - - N
626142 2022-001 - - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $2.30M Yes 1

Contacts

Name Title Type
WB24RJYB11B3 Howard Glastonbury Auditee
5859221595 Christopher Eckert Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Parkway Commons Housing Development Fund Company, Inc. Resch Commons, HUD Project No. 014-EH274/NY06-S901-001 (the Project) under programs of the Federal government for the year ended December 31, 2022. The information in the 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 this Schedule presents only a selected portion of the operations of the Project, it is not intended to and does not present the financial position and changes in fund deficit, or cash flows of the Project. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-001
Assistance Listing Number: Supportive Housing for the Elderly ? 14.157 Criteria: The Project is required to deposit surplus cash, if any, into the residual receipts account within 90 days after year end. Condition: The Project did not timely deposit surplus cash into their residual receipts account. Cause: The Project did not have a control in place to ensure the deposit was made timely. Effect: The Project is not in compliance with federal regulations. Repeat Finding: N/A
Finding 2022-001
Assistance Listing Number: Supportive Housing for the Elderly ? 14.157 Criteria: The Project is required to deposit surplus cash, if any, into the residual receipts account within 90 days after year end. Condition: The Project did not timely deposit surplus cash into their residual receipts account. Cause: The Project did not have a control in place to ensure the deposit was made timely. Effect: The Project is not in compliance with federal regulations. Repeat Finding: N/A