FAC Explorer

Audit 7554

FY End
2023-03-31
Total Expended
$1.64M
Findings
0
Programs
2
Organization: Cicero Housing Development Fund Company, Inc. (NY)
Year: 2023 Accepted: 2023-12-19
Auditor: Bonadio & CO LLP

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $1.36M Yes 0
14.195 Section 8 Housing Assistance Payments Program $282,535 - 0

Contacts

Name Title Type
D3CKU2LJ9NA8 Kyle Lyskawa Auditee
3154241821 Bettina Lipphardt Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Basis of Presentation This schedule of expenditures of federal awards includes the federal grant activity of Cicero Housing Development Fund Company, Inc. (Sacred Heart Apartments), HUD Project No. 014-11192, and is presented on the accrual basis of accounting. 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. Insured Mortgage Sacred Heart Apartments obtained from HUD a guarantee of its mortgage payable. The outstanding balance of this mortgage at March 31, 2023 was $1,324,814. Indirect Costs Sacred Heart Apartments has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Indirect Costs Sacred Heart Apartments has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.