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HOUSING FOR NEW HOPE, INC. <br /> SCHEDULE OF FINDINGS AND QUESTIONED COSTS <br /> FOR THE YEAR ENDED AUGUST 31,2011 <br /> SECTION I.—SUMMARY OF AUDITORS'RESULTS <br /> Financial Statements <br /> Type of auditors'report issued: Unqualified. <br /> Internal control over financial reporting: <br /> Material weakness(es)identified? yes X no <br /> Significant deficiencies identified <br /> that are not considered to be <br /> material weaknesses? yes X none reported <br /> Noncompliance material to financial <br /> statements noted yes X no <br /> Federal Awards <br /> Internal control over major federal programs: <br /> Material weakness(es)identified? yes X no <br /> Significant deficiencies identified <br /> that are not considered to be <br /> material weaknesses? yes X none reported <br /> Type of auditors' report issued on compliance for major federal programs: Unqualified. <br /> Any audit findings disclosed that are required <br /> to be reported in accordance with Section 510(a) <br /> of Circular A-133? yes X no <br /> Identification of major federal programs: <br /> Program Name <br /> CFDA Number <br /> U.S. Department of Housing and Urban Development <br /> Neighborhood Stabilization Program 14.256 <br /> U.S. Department of Housing and Urban Development <br /> Homelessness Prevention and Rapid Re-housing Program-ARRA 14.257 <br /> Dollar threshold used to distinguish between <br /> Type A and Type B Programs $ 300,000 <br /> Auditee qualified as low-risk auditee? yes X no <br /> 24 <br />