FAC Explorer

Audit 353520

FY End
2024-12-31
Total Expended
$1.10M
Findings
2
Programs
2
Organization: Miller Road Housing Development Fund Company, Inc. (NY)
Year: 2024 Accepted: 2025-04-14
Auditor: Bonadio & CO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
554922 2024-001 - - N
1131364 2024-001 - - N

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $899,331 Yes 1
14.195 Section 8 Housing Assistance Payments Program $205,101 - 0

Contacts

Name Title Type
LR54JJK6LHK8 Kyle Lyskawa Auditee
3154241821 Bettina Lipphardt Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Basis of Presentation This schedule of expenditures of federal awards includes the federal grant activity of Miller Road Housing Development Fund Company, Inc. (Rogers Senior Apartments), HUD Project No. 014-11187 (the Corporation), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Insured Mortgage The Corporation obtained from HUD a guarantee of its mortgage payable. The outstanding balance of this mortgage at December 31, 2024 was $875,439. Indirect Costs The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Indirect Costs The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2024-001
Finding 2024-001: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Federal Assistance Listing Number 14.155 Criteria: The HUD Handbook requires owners to perform and document inspections of each unit on at least an annual basis. Condition: Unit inspections were not performed during the year. Context: We reviewed 3 tenant files for documentation of unit inspections, all of which did not have documentation of the inspections. Cause: Unit inspections were not completed with turnover in apartment manager. Effect: The tenant’s unit may not be in a decent, safe, and sanitary condition. Recommendation: We recommend that Rogers Senior Apartments ensure documentation of unit inspections is maintained in all tenant files. Views of management and planned corrective action: Rogers Senior Apartments will ensure inspections are properly documented in all tenant files.
Finding 2024-001
Finding 2024-001: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Federal Assistance Listing Number 14.155 Criteria: The HUD Handbook requires owners to perform and document inspections of each unit on at least an annual basis. Condition: Unit inspections were not performed during the year. Context: We reviewed 3 tenant files for documentation of unit inspections, all of which did not have documentation of the inspections. Cause: Unit inspections were not completed with turnover in apartment manager. Effect: The tenant’s unit may not be in a decent, safe, and sanitary condition. Recommendation: We recommend that Rogers Senior Apartments ensure documentation of unit inspections is maintained in all tenant files. Views of management and planned corrective action: Rogers Senior Apartments will ensure inspections are properly documented in all tenant files.