Audit 53305

FY End

2022-03-31

Total Expended

$36.15M

Findings

4

Programs

7

Organization: Fall River Housing Authority (RI)

Year: 2022 Accepted: 2022-12-29

Auditor: Marcum LLP

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
42674	2022-002	Material Weakness	-	L
42675	2022-002	Material Weakness	-	L
619116	2022-002	Material Weakness	-	L
619117	2022-002	Material Weakness	-	L

ALN	Program	Spent	Major	Findings
14.871	Section 8 Housing Choice Vouchers	$18.95M	Yes	0
14.850	Public and Indian Housing	$10.52M	Yes	1
14.872	Public Housing Capital Fund	$4.90M	Yes	1
14.871	Section 8 Housing Choice Vouchers Cares	$1.29M	-	0
14.267	Continuum of Care Program	$364,108	-	0
14.896	Family Self-Sufficiency Program	$128,176	-	0
21.019	Coronavirus Relief Fund	$0	-	0

Contacts

Name	Title	Type
X9FJY49ALM29	Kevin Sbardella	Auditee
5086753578	Michael Guyder	Auditor
No contacts on file

Notes to SEFA

Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the schedule) includes thefederal grant activity of Fall River Housing Authority, under programs of the federalgovernment for the year ended March 31, 2022. The information in the schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirement, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the schedule presents only a selected portion of theoperations of Fall River Housing Authority, it is not intended to and does not present thefinancial position, changes in net position or cash flows of Fall River Housing Authority.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedule are reported on the accrual basis of accounting. Forcost-reimbursement awards, such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. For performance-based awards, expenditures reportedrepresent amounts earned.NOTE 3 INDIRECT COST RATEThe Fall River Housing Authority has elected not to use the 10% de minimis indirect cost rateallowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-002

2022-002 ? INTERNAL CONTROL OVER FINANCIAL REPORTING MATERIAL WEAKNESS/MATERIAL NONCOMPLIANCE CRITERIA Filing of financial reports. (1) For entities listed in paragraphs (a)(1) and (2) of this section, the financial information to be submitted to HUD in accordance with paragraph (b) of this section, must be submitted annually, no later than 60 days after the end of the fiscal year of the reporting period, and as otherwise provided by law (for public housing agencies, see also 24 CFR 903.33). (24 CFR 5.801(c)) CRITERIA The unaudited FDS was required to be submitted to HUD by July 15th, 2022, which includes HUD?s 15 day grace period. The Authority submitted the FDS on November 18th, 2022. CAUSE Due to a miscommunication between the Authority staff and fee accountant, the unaudited FDS report was not submitted timely. EFFECT Failure to submit information timely hinders HUD?s ability to monitor and make decisions about the programs.QUESTIONED COSTS None identified. CONTEXT All PHA?s that administer Public and Indian Housing and Capital Fund Programs are required to prepare and submit an unaudited FDS to HUD within 75 days of the end of its fiscal year. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority review their year end closing process to ensure that adequate procedures are in place to ensure financial reports are submitted timely.

Finding 2022-002

2022-002 ? INTERNAL CONTROL OVER FINANCIAL REPORTING MATERIAL WEAKNESS/MATERIAL NONCOMPLIANCE CRITERIA Filing of financial reports. (1) For entities listed in paragraphs (a)(1) and (2) of this section, the financial information to be submitted to HUD in accordance with paragraph (b) of this section, must be submitted annually, no later than 60 days after the end of the fiscal year of the reporting period, and as otherwise provided by law (for public housing agencies, see also 24 CFR 903.33). (24 CFR 5.801(c)) CRITERIA The unaudited FDS was required to be submitted to HUD by July 15th, 2022, which includes HUD?s 15 day grace period. The Authority submitted the FDS on November 18th, 2022. CAUSE Due to a miscommunication between the Authority staff and fee accountant, the unaudited FDS report was not submitted timely. EFFECT Failure to submit information timely hinders HUD?s ability to monitor and make decisions about the programs.QUESTIONED COSTS None identified. CONTEXT All PHA?s that administer Public and Indian Housing and Capital Fund Programs are required to prepare and submit an unaudited FDS to HUD within 75 days of the end of its fiscal year. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority review their year end closing process to ensure that adequate procedures are in place to ensure financial reports are submitted timely.

Finding 2022-002

2022-002 ? INTERNAL CONTROL OVER FINANCIAL REPORTING MATERIAL WEAKNESS/MATERIAL NONCOMPLIANCE CRITERIA Filing of financial reports. (1) For entities listed in paragraphs (a)(1) and (2) of this section, the financial information to be submitted to HUD in accordance with paragraph (b) of this section, must be submitted annually, no later than 60 days after the end of the fiscal year of the reporting period, and as otherwise provided by law (for public housing agencies, see also 24 CFR 903.33). (24 CFR 5.801(c)) CRITERIA The unaudited FDS was required to be submitted to HUD by July 15th, 2022, which includes HUD?s 15 day grace period. The Authority submitted the FDS on November 18th, 2022. CAUSE Due to a miscommunication between the Authority staff and fee accountant, the unaudited FDS report was not submitted timely. EFFECT Failure to submit information timely hinders HUD?s ability to monitor and make decisions about the programs.QUESTIONED COSTS None identified. CONTEXT All PHA?s that administer Public and Indian Housing and Capital Fund Programs are required to prepare and submit an unaudited FDS to HUD within 75 days of the end of its fiscal year. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority review their year end closing process to ensure that adequate procedures are in place to ensure financial reports are submitted timely.

Finding 2022-002

2022-002 ? INTERNAL CONTROL OVER FINANCIAL REPORTING MATERIAL WEAKNESS/MATERIAL NONCOMPLIANCE CRITERIA Filing of financial reports. (1) For entities listed in paragraphs (a)(1) and (2) of this section, the financial information to be submitted to HUD in accordance with paragraph (b) of this section, must be submitted annually, no later than 60 days after the end of the fiscal year of the reporting period, and as otherwise provided by law (for public housing agencies, see also 24 CFR 903.33). (24 CFR 5.801(c)) CRITERIA The unaudited FDS was required to be submitted to HUD by July 15th, 2022, which includes HUD?s 15 day grace period. The Authority submitted the FDS on November 18th, 2022. CAUSE Due to a miscommunication between the Authority staff and fee accountant, the unaudited FDS report was not submitted timely. EFFECT Failure to submit information timely hinders HUD?s ability to monitor and make decisions about the programs.QUESTIONED COSTS None identified. CONTEXT All PHA?s that administer Public and Indian Housing and Capital Fund Programs are required to prepare and submit an unaudited FDS to HUD within 75 days of the end of its fiscal year. REPEAT FINDING Not a repeat finding. RECOMMENDATION We recommend that the Authority review their year end closing process to ensure that adequate procedures are in place to ensure financial reports are submitted timely.