Audit 302869

Finding Resolution Status - Resolved Information on Universe and Population Size - The Corporation was subject to one Real Estate Assessment Center (REAC) physical inspection on July 18, 2023. Sample Size Information - N/A Not determined via a sampling method. Identification of Repeat Finding and Finding Reference Number - N/A Not a repeat finding. Criteria - The HUD Regulatory Agreement requires the property to be maintained in good repair condition. Statement of Condition - On July 18, 2023, the Corporation had a Real Estate Assessment Center (REAC) physical inspection at the property and received a rating of 58c. Cause: There are several repairs that need to be completed through the building in order for the Corporation to be in compliance with the requirements of the regulatory agreement. Effect or Potential Effect - As a result of the inspection, the Corporation was in violation of its regulatory agreement with HUD. Auditor Noncompliance Code - I Failure to maintain the property/open physical inspection(s) Reporting Views of Responsible Officials - The Corporation agrees with the finding as reported. Context - During testing for compliance with the HUD Regulatory Agreement, one instance of a failing REAC physical inspection rating was noted. Recommendation - All required repairs should be made in accordance with the REAC inspection and the regulatory agreement. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - The Corporation should implement procedures to ensure the property is in good repair and condition to remain in compliance with the regulatory agreement with HUD. All repairs identified in the REAC inspection report should be made prior to the next scheduled inspection. Response Indicator - Agree Completion Date - December 31, 2023 Response - Management acknowledges noncompliance in the current fiscal year and has addressed all of the health and safety issues and all other findings as of December 31, 2023

Finding Resolution Status - Resolved Information on Universe and Population Size - The Corporation was subject to one Real Estate Assessment Center (REAC) physical inspection on July 18, 2023. Sample Size Information - N/A Not determined via a sampling method. Identification of Repeat Finding and Finding Reference Number - N/A Not a repeat finding. Criteria - The HUD Regulatory Agreement requires the property to be maintained in good repair condition. Statement of Condition - On July 18, 2023, the Corporation had a Real Estate Assessment Center (REAC) physical inspection at the property and received a rating of 58c. Cause: There are several repairs that need to be completed through the building in order for the Corporation to be in compliance with the requirements of the regulatory agreement. Effect or Potential Effect - As a result of the inspection, the Corporation was in violation of its regulatory agreement with HUD. Auditor Noncompliance Code - I Failure to maintain the property/open physical inspection(s) Reporting Views of Responsible Officials - The Corporation agrees with the finding as reported. Context - During testing for compliance with the HUD Regulatory Agreement, one instance of a failing REAC physical inspection rating was noted. Recommendation - All required repairs should be made in accordance with the REAC inspection and the regulatory agreement. Auditor's Summary of the Auditee's Comments on the Findings and Recommendations - The Corporation should implement procedures to ensure the property is in good repair and condition to remain in compliance with the regulatory agreement with HUD. All repairs identified in the REAC inspection report should be made prior to the next scheduled inspection. Response Indicator - Agree Completion Date - December 31, 2023 Response - Management acknowledges noncompliance in the current fiscal year and has addressed all of the health and safety issues and all other findings as of December 31, 2023