FAC Explorer

Finding 38920 (2022-002)

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Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-09-19
Audit: 44340
Organization: St Camillus Residential Health Care Facility (NY)
Auditor: Bonadio & CO LLP

AI Summary

  • Answer: The Facility incorrectly excluded CARES Act funds from the surplus cash calculation.
  • Trend: This misinterpretation of the regulatory agreement could lead to ongoing compliance issues.
  • List: Follow up by ensuring proper inclusion of all restricted cash in future surplus cash calculations.

Finding Text

Criteria: The regulatory agreement prohibits excluding restricted cash from the surplus cash calculation. Condition: The Facility excluded funds received from CARES Act programs in the 2021 surplus cash calculation. Cause: The Facility believes CARES Act funds are excludable from the computation of surplus cash. Effect: Surplus cash was not deposited into residual receipts as required by the regulatory agreement.

Corrective Action Plan

calculation. Recommendation: The Facility should recompute surplus cash ensuring CARES Act program cash is captured in the calculation and deposit the surplus cash into their residual receipts account. Action Taken: The Facility will update its computation and the owner-certified 2022 Annual Financial Statement submission. Surplus cash will be deposited into the project?s residual receipts account as soon as practicable.

Categories

Cash Management HUD Housing Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.129 Mortgage Insurance_nursing Homes, Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities $4.66M
93.498 Provider Relief Fund $67,850