Audit 6603

FY End

2023-06-30

Total Expended

$1.89M

Findings

2

Programs

1

Organization: 13west 103rd Street CORP (NY)

Year: 2023 Accepted: 2023-12-14

Auditor: Pkf O'Connor Davies LLP

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
4289	2023-001	-	Yes	N
580731	2023-001	-	Yes	N

ALN	Program	Spent	Major	Findings
14.181	Supportive Housing for Persons with Disabilities	$344,307	Yes	0

Contacts

Name	Title	Type
GRHUKTVRHK64	Ezra Miller	Auditee
2126633000	Stewart Grubman	Auditor
No contacts on file

Notes to SEFA

Title: Loan/Loan Guartee Outstanding Balance Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Schedule includes the federal award activity of 13 West 103rd Street Corporation (the “Entity”) under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, change in net assets or cash flows of the Entity. De Minimis Rate Used: N Rate Explanation: The Entity is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development Federal Assistance Listing Number 14.181 Supportive Housing for Persons with Disabilities Outstanding Balance 1,547,500

Title: Federal Loan Program Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Schedule includes the federal award activity of 13 West 103rd Street Corporation (the “Entity”) under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, change in net assets or cash flows of the Entity. De Minimis Rate Used: N Rate Explanation: The Entity is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development The Entity received a U.S. Department of Housing and Urban Development Capital Advance under Section 811 of the National Affordable Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Entity received no additional loans during the year

Finding Details

Finding 2023-001

Information on the Universe Population Size-One (1) surplus cash deposit Sample Size-One (1) surplus cash deposit Identification of Repeat Finding Reference Number-N/A Criteria-The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end Statement of Condition-The 2022 required surplus cash deposit of $33,372 was not made Cause-The reason the deposit was not made is due to management oversight due to a change in management personnel positions Effect or Potential Effect-The requirement to deposit surplus cash within 90 days of the fiscal year was not met Auditor Non-Compliance Code- B-Failure to make required residual receipts deposits Questioned Costs-There were no known questioned costs Reporting Views of Responsible Officials-The Entity’s policy has been to make surplus cash deposits after the final audit has been issued Going forward the focus will be to work with the auditor and owner to get the audits finalized earlier so adequate time is left for the deposits to be made. In instances where the final is not going to be issued and allow enough time, the deposit will be made based on the reviewed draft FHA Contract number- 012-HD006 Context-The finding represents an isolated instance of management oversight due to a change in management personnel positions Recommendations-We recommend that management ensures the surplus cash deposit is done timely in the future or request a waiver from HUD Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations-Management agrees with the finding and is in the process of obtaining a waiver from HUD or deposting the required surplus cash if a waiver is not granted Response-Management agrees with the finding and will make the surplus cash deposit as soon as funds are available or work with HUD to receive a waiver.

Finding 2023-001

Information on the Universe Population Size-One (1) surplus cash deposit Sample Size-One (1) surplus cash deposit Identification of Repeat Finding Reference Number-N/A Criteria-The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days of the fiscal year end Statement of Condition-The 2022 required surplus cash deposit of $33,372 was not made Cause-The reason the deposit was not made is due to management oversight due to a change in management personnel positions Effect or Potential Effect-The requirement to deposit surplus cash within 90 days of the fiscal year was not met Auditor Non-Compliance Code- B-Failure to make required residual receipts deposits Questioned Costs-There were no known questioned costs Reporting Views of Responsible Officials-The Entity’s policy has been to make surplus cash deposits after the final audit has been issued Going forward the focus will be to work with the auditor and owner to get the audits finalized earlier so adequate time is left for the deposits to be made. In instances where the final is not going to be issued and allow enough time, the deposit will be made based on the reviewed draft FHA Contract number- 012-HD006 Context-The finding represents an isolated instance of management oversight due to a change in management personnel positions Recommendations-We recommend that management ensures the surplus cash deposit is done timely in the future or request a waiver from HUD Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations-Management agrees with the finding and is in the process of obtaining a waiver from HUD or deposting the required surplus cash if a waiver is not granted Response-Management agrees with the finding and will make the surplus cash deposit as soon as funds are available or work with HUD to receive a waiver.