FAC Explorer

Audit 51094

FY End
2022-12-31
Total Expended
$3.53M
Findings
2
Programs
1
Organization: Middlebury Senior Housing Associates, Inc. - Woodside Heights (CT)
Year: 2022 Accepted: 2023-06-13
Auditor: Maddox & Associates Apc

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
51326 2022-001 - - L
627768 2022-001 - - L

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $3.53M Yes 1

Contacts

Name Title Type
ZS3JLFWVR5Q6 Sabine Cox Auditee
2032304809 Jeff Maddox 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. The Project has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 3266600.

Finding Details

Finding 2022-001
Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The Regulatory Agreement and Project Rental Assistance Contract require audited financial statements be submitted to HUD within 60 days of the project?s fiscal year end. Uniform Financial Reporting Standards (UFRS) changed the deadline to 90 days. Statement of Condition: Financial statements were not filed with HUD by the 90 day deadline. Cause: The prior CPA retired. Effect or Potential Effect: Financial statements were not filed with HUD. Auditor Non-Compliance Code: Z Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The financial statements were submitted to HUD on June 16, 2022. Context: Financial statements were not filed with HUD by the 90 day deadline. Recommendation: The owner should complete its accounting process on a timely basis. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The financial statements were submitted to HUD on June 16, 2022. Response Indicator: Agree Completion Date: June 16, 2022 Response: Management agrees with the finding. The financial statements were submitted to HUD on June 16, 2022.
Finding 2022-001
Finding Reference Number: 2022-001 Type of Finding: FA Finding Resolution Status: Resolved Information on Universe Population Size: The finding was not a result of a sampling procedure. Sample Size Information: The finding was not a result of a sampling procedure. Identification of Repeat Finding and Finding Reference Number: This is not a repeat finding. Criteria: The Regulatory Agreement and Project Rental Assistance Contract require audited financial statements be submitted to HUD within 60 days of the project?s fiscal year end. Uniform Financial Reporting Standards (UFRS) changed the deadline to 90 days. Statement of Condition: Financial statements were not filed with HUD by the 90 day deadline. Cause: The prior CPA retired. Effect or Potential Effect: Financial statements were not filed with HUD. Auditor Non-Compliance Code: Z Questioned Costs: There are no questioned costs. The finding does not relate to an undocumented transaction or unreasonable expenditure. Reporting Views of Responsible Officials: Management agrees with the finding. The financial statements were submitted to HUD on June 16, 2022. Context: Financial statements were not filed with HUD by the 90 day deadline. Recommendation: The owner should complete its accounting process on a timely basis. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations: Management agrees with the finding. The financial statements were submitted to HUD on June 16, 2022. Response Indicator: Agree Completion Date: June 16, 2022 Response: Management agrees with the finding. The financial statements were submitted to HUD on June 16, 2022.