FAC Explorer

Finding 563788 (2024-001)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-06-04
Audit: 357998
Organization: Stonegate Housing, Ltd. (TX)
Auditor: Novogradac & Company LLP

AI Summary

  • Answer: The entity lacks necessary written policies and procedures.
  • Trend: This is a recurring issue affecting compliance with federal regulations.
  • List: Recommend developing and implementing required documentation to meet 2 CFR Part 200 standards.

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.

Corrective Action Plan

Management will coordinate with its agent and external parties, as necessary, and anticipates completion of this action no later than December 31, 2025.

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 $11.98M