FAC Explorer

Finding 565996 (2024-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-06-24
Audit: 359648
Organization: Independent Living Place, Inc. (TX)
Auditor: M Group LLP

AI Summary

  • Core Issue: The financial statements for the period ending September 30, 2023, were not submitted to the Federal Audit Clearinghouse on time.
  • Impacted Requirements: This violates Uniform Guidance, which mandates timely submission of audited financial statements in accordance with GAAP.
  • Recommended Follow-Up: Ensure future submissions to the FAC are completed within 90 days of year-end to maintain compliance.

Finding Text

Finding #2024-001: Section 202 Supportive Housing for the Disabled, Assistance Listing 14.157 and Section 8 Housing Assistance Payments Program, Assistance Listing 14.195 Type of Finding: Significant Deficiency Condition: The audited financial statements for the period ended September 30, 2023 were not entered into the Federal Audit Clearinghouse (FAC) system timely. Criteria: Uniform Guidance requires the audited financial statements to be prepared in accordance with GAAP and submitted to the FAC system timely. Questioned cost: $0 Effect: The Corporation is in violation of the compliance requirement of its major federal program. Cause: Unknown Repeat Finding: No Recommendation: We recommend the audited financial statements be submitted into the FAC system within 90 days of year end. Management’s View: Management is in agreement with the finding. The corrective action plan is included in the audit report. Auditor’s Comment: CLEARED. On September 25, 2024, the Corporation submitted the September 30, 2023 financial statements to FAC.

Corrective Action Plan

CORRECTIVE ACTION PLAN Name and Number of the Project: INDEPENDENT LIVING PLACE, INC. No. 115-EH115 Audit Firm: M Group, LLP Audit Period: The year ended September 30, 2024 Compliance Review: A. COMMENTS ON FINDINGS AND RECOMMENDATIONS We concur with the findings and recommendations of our auditors regarding our noncompliance as cited in the accompanying Schedule of Findings and Questioned Costs. ACTIONS TAKEN FINDING #2024-01: Section 202 Supportive Housing for the Disabled, Assistance Listing 14.157 and Section 8 Housing Assistance Payments Program, Assistance Listing 14.195 CORRECTIVE ACTION COMPLETED: CLEARED. The Corporation submitted the audited financials for the year ended September 30, 2023 on September 25, 2024. We have prepared the corrective action plan as required by the standards applicable to financial statements contained in Government Auditing Standards and by the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Any questions regarding the above corrective action plan should be directed to Mr. Stewart Grounds, Chief Financial Officer of Arnold-Grounds Apartment Management & Affordable Housing Specialists, LLC.

Categories

HUD Housing Programs Significant Deficiency

Other Findings in this Audit

  • 565997 2024-002
    Material Weakness
  • 565998 2024-001
    Significant Deficiency Repeat
  • 1142438 2024-001
    Significant Deficiency Repeat
  • 1142439 2024-002
    Material Weakness
  • 1142440 2024-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $816,048
14.195 Section 8 Housing Assistance Payments Program $397,183