FAC Explorer

Audit 49629

FY End
2022-06-30
Total Expended
$5.65M
Findings
4
Programs
4
Organization: Ahepa 232, Inc. (IN)
Year: 2022 Accepted: 2023-03-28
Auditor: Clark Schaefer Hackett & Company

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
52178 2022-001 - - N
52179 2022-002 Material Weakness - N
628620 2022-001 - - N
628621 2022-002 Material Weakness - N

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.02M Yes 2
14.314 Assisted Living Conversion for Eligible Multifamily Housing Projects $2.09M - 0
14.195 Section 8 Housing Assistance Payments Program $507,096 - 0
14.191 Multifamily Housing Service Coordinators $31,392 - 0

Contacts

Name Title Type
H1PBKANQ3D78 Dawn Cole Auditee
3178453410 Robert Kitchen 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 principles contained 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. The outstanding balance of the HUD Insured Mortgage at June 30, 2022 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $2,960,556.

Finding Details

Finding 2022-001
The Project did not make the required deposit to the residual receipt account per the Regulatory Agreement.
Finding 2022-002
Operation over the internal control over compliance did not prevent or detect and correct material noncompliance on a timely basis by management or employees in the normal course of performing their assigned functions.
Finding 2022-001
The Project did not make the required deposit to the residual receipt account per the Regulatory Agreement.
Finding 2022-002
Operation over the internal control over compliance did not prevent or detect and correct material noncompliance on a timely basis by management or employees in the normal course of performing their assigned functions.