FAC Explorer

Audit 51034

FY End
2022-06-30
Total Expended
$1.01M
Findings
2
Programs
2
Organization: Thomas' Contentment, Inc.-Community Living INC (MD)
Year: 2022 Accepted: 2023-03-30
Auditor: Mullen Sondberg Wimbish & Stone

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
42887 2022-001 - - N
619329 2022-001 - - N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities - Capital Advance $963,267 Yes 1
14.181 Supportive Housing for Persons with Disabilities - Housing Assistance Payments $47,033 Yes 0

Contacts

Name Title Type
F2JEGJQGMZT6 Thomas Evans Auditee
3016638881 John G. Wiland Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity Thomas Contentment, Inc. under programs of the federal government for the year ended June 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 Thomas Contentment, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Thomas Contentment, Inc. 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, whereas 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 - CAPITAL ADVANCE (14.181) - Balances outstanding at the end of the audit period were $963,267.

Finding Details

Finding 2022-001
Condition: The project?s surplus cash was not deposited in the residual receipts account within 60 days after year end. Criteria: Any project funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited with the mortgage or other HUD-approved depository in an interest-bearing account. Effect: The project was not in compliance Questioned Costs: None Cause: Due to turnover in the HUD manager position, this requirement was inadvertently missed for the fiscal year. Recommendation: Management should perform the calculation of surplus cash during the year end closing process and transfer any surplus cash to the residual receipts account if necessary. Current Status: Management agrees with the comment and have transferred the funds in February 2023.
Finding 2022-001
Condition: The project?s surplus cash was not deposited in the residual receipts account within 60 days after year end. Criteria: Any project funds in the project funds account (including earned interest) at the end of the fiscal year shall be deposited with the mortgage or other HUD-approved depository in an interest-bearing account. Effect: The project was not in compliance Questioned Costs: None Cause: Due to turnover in the HUD manager position, this requirement was inadvertently missed for the fiscal year. Recommendation: Management should perform the calculation of surplus cash during the year end closing process and transfer any surplus cash to the residual receipts account if necessary. Current Status: Management agrees with the comment and have transferred the funds in February 2023.