Audit 345587

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing No. 14.157 (Project identification number 073-EH187 and 1986) Auditor non-compliance code: Z - Other Finding resolution status: Resolved Universe population size: N/A Sample size information: N/A Statistically valid sample: No Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-001: The Corporation did not furnish HUD a complete annual financial report within ninety (90) days following the end of the fiscal year ending May 31, 2024. Additionally, Form SF-SAC Single Audit Data Collection Form for the year ended May 31, 2024 was not submitted to the federal audit clearinghouse in the required timeframe. Criteria: Pursuant to the Regulatory Agreement, within ninety (90) days, or such period established in writing by HUD, following the end of each fiscal year, the Corporation shall engage an independent, licensed Certified Public Accountant to audit the Corporation's annual financial report and to produce and furnish HUD an audit report in accordance with the requirements established by HUD. Additionally, pursuant to Uniform Guidance, the Corporation is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 days after the receipt of the auditor's report or nine months after the end of the audit period. Effect: The Corporation was not in compliance with the Regulatory Agreement and Uniform Guidance. Cause: The Corporation did not file the audit report and data collection form for the year ended May 31, 2024 by nine months after the end of the audit period. Recommendation: The Corporation should submit the annual financial statements to HUD and Form SF-SAC Single Audit Data Collection Form for the years ended May 31, 2024 as soon as practical. Management's response: Management concurs with the finding and recommendation. The audited financial statements have been submitted to HUD and the federal clearinghouse. No further action is required.

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing No. 14.157 (Project identification number 073-EH187 and 1986) Auditor non-compliance code: Z - Other Finding resolution status: Resolved Universe population size: N/A Sample size information: N/A Statistically valid sample: No Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-001: The Corporation did not furnish HUD a complete annual financial report within ninety (90) days following the end of the fiscal year ending May 31, 2024. Additionally, Form SF-SAC Single Audit Data Collection Form for the year ended May 31, 2024 was not submitted to the federal audit clearinghouse in the required timeframe. Criteria: Pursuant to the Regulatory Agreement, within ninety (90) days, or such period established in writing by HUD, following the end of each fiscal year, the Corporation shall engage an independent, licensed Certified Public Accountant to audit the Corporation's annual financial report and to produce and furnish HUD an audit report in accordance with the requirements established by HUD. Additionally, pursuant to Uniform Guidance, the Corporation is required to submit Form SF-SAC Single Audit Data Collection Form within the earlier of 30 days after the receipt of the auditor's report or nine months after the end of the audit period. Effect: The Corporation was not in compliance with the Regulatory Agreement and Uniform Guidance. Cause: The Corporation did not file the audit report and data collection form for the year ended May 31, 2024 by nine months after the end of the audit period. Recommendation: The Corporation should submit the annual financial statements to HUD and Form SF-SAC Single Audit Data Collection Form for the years ended May 31, 2024 as soon as practical. Management's response: Management concurs with the finding and recommendation. The audited financial statements have been submitted to HUD and the federal clearinghouse. No further action is required.