FAC Explorer

Audit 55968

FY End
2022-06-30
Total Expended
$3.15M
Findings
2
Programs
1
Organization: Asbury Arms North, Inc. (FL)
Year: 2022 Accepted: 2023-04-26
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
59137 2022-001 Significant Deficiency - N
635579 2022-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly $255,965 Yes 0

Contacts

Name Title Type
PMCLRVLL8NQ3 Lynda Marin Auditee
4078390707 Michael J Siegel 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 UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Negative amounts shown on the Schedule represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.Asbury Arms North, Inc., dba: Westminster Asbury North, has elected to use the 10 percentde minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 2891200.
Title: BASIS OF PRESENTATION 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 UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Negative amounts shown on the Schedule represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.Asbury Arms North, Inc., dba: Westminster Asbury North, has elected to use the 10 percentde minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of Asbury Arms North, Inc., dba: Westminster Asbury North underprograms of the federal government for the year ended June 30, 2022. The information inthis Schedule is presented in accordance with the requirements of 2 CFR Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of Asbury Arms North, Inc., dba: Westminster Asbury North, it is not intended toand does not present the financial position, changes in net assets, or cash flows of AsburyArms North, Inc., dba: Westminster Asbury North.

Finding Details

Finding 2022-001
2022 ? 001 Type of Finding: Significant Deficiency in Internal Control over Compliance Federal Agency: Department of Housing and Urban Development Federal Program Name: Section 202 Capital Advance Assistance Listing Number: 14.157 Federal Award Identification Number and Year: 067-EE078; 2022 Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: N/A Type of Finding: ? Other Matters Criteria or specific requirement: Surplus cash must be calculated and deposited, as defined in the Regulatory Agreement, and deposited into the residual receipts escrow within the 90 days after year end. Condition: The Project did not deposit surplus cash into the residual receipt escrow within the 90 days after year end requirement. Questioned costs: $43,292 Context: During the audit, it was determined that the Project?s surplus cash from fiscal year 2021 was not deposited into a residual receipts escrow account within 90 day requirement. Cause: Management oversight. Effect: Surplus cash was not deposited into the residual receipts escrow account within 90 days after year end requirement.Repeat Finding: No Recommendation: : We recommend that management compute surplus cash on an annual basis and make the deposit within 90 days after year end, as required by the Regulatory Agreement. Views of responsible officials: : Management originally did not remit surplus cash within the 90-day requirement due to the Project not having a finalized calculation of surplus cash until the financial statement audit as completed. The Project remitted the funds top the residual receipt escrow account during November 2021.
Finding 2022-001
2022 ? 001 Type of Finding: Significant Deficiency in Internal Control over Compliance Federal Agency: Department of Housing and Urban Development Federal Program Name: Section 202 Capital Advance Assistance Listing Number: 14.157 Federal Award Identification Number and Year: 067-EE078; 2022 Pass-Through Agency: N/A Pass-Through Number(s): N/A Award Period: N/A Type of Finding: ? Other Matters Criteria or specific requirement: Surplus cash must be calculated and deposited, as defined in the Regulatory Agreement, and deposited into the residual receipts escrow within the 90 days after year end. Condition: The Project did not deposit surplus cash into the residual receipt escrow within the 90 days after year end requirement. Questioned costs: $43,292 Context: During the audit, it was determined that the Project?s surplus cash from fiscal year 2021 was not deposited into a residual receipts escrow account within 90 day requirement. Cause: Management oversight. Effect: Surplus cash was not deposited into the residual receipts escrow account within 90 days after year end requirement.Repeat Finding: No Recommendation: : We recommend that management compute surplus cash on an annual basis and make the deposit within 90 days after year end, as required by the Regulatory Agreement. Views of responsible officials: : Management originally did not remit surplus cash within the 90-day requirement due to the Project not having a finalized calculation of surplus cash until the financial statement audit as completed. The Project remitted the funds top the residual receipt escrow account during November 2021.