FAC Explorer

Finding 396040 (2023-001)

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Requirement
A
Questioned Costs
-
Year
2023
Accepted
2024-05-07
Audit: 305664
Organization: Stonegate Housing, Ltd. (TX)
Auditor: Novogradac & Company LLP

AI Summary

  • Answer: The entity lacks necessary written policies and procedures.
  • Trend: This is a common issue that can lead to non-compliance with federal regulations.
  • List: Recommend creating and implementing these documents to meet 2 CFR Part 200 requirements.

Finding Text

Entity does not have written policies, procedures, and standards of conduct required by 2 Code of Federal Regulations, Part 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart D - Post Federal Award Requirements and Subpart E - Cost Principles.

Corrective Action Plan

Reporting views of responsible officials Concur or do not concur with this finding: Concur Agree or disagree with auditor recommendations: Agree Completion date or proposed completion date: December 31, 2024 Actions taken or planned on the finding Participate in training to assist in the development of written policies and procedures, and standards of conduct to be in compliance with 2 Code of Federal Regulations Part 200 – Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart D – Post Federal Award Requirements and Subpart E – Cost Principles.

Categories

Allowable Costs / Cost Principles

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $12.18M