FAC Explorer

Audit 367804

FY End
2024-12-31
Total Expended
$3.23M
Findings
2
Programs
2
Organization: Mm Iii, Inc. Operating As Mayfield Manor III (FL)
Year: 2024 Accepted: 2025-09-26
Auditor: Bellows Associates P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1155518 2024-001 Material Weakness Yes E
1155519 2024-002 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.157 Supportive Housing for the Elderly - Capital Advance $3.08M Yes 0
14.157 Supportive Housing for the Elderly - Prac $141,231 Yes 2

Contacts

Name Title Type
JFCJJBDJLAV3 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal award activity of MM III, Inc., HUD Project No. 042-EE132, 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of MM III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of MM III, Inc.
MM III, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. MM III, Inc. received no additional loans during the year. The balance of the capital advance outstanding as of December 31, 2024 was $3,084,301.

Finding Details

Finding 2024-001
FINDING No. 2024-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: Eight moved-in tenants. Sample Size Information: Two moved-in tenants. Identification of Repeat Finding and Finding Reference Number: No. Criteria: HUD regulation requires the maintenance of a waiting list and the selection of applicants in chronological order of application date or adequate documentation of the reasoning for an applicant being passed over for an applicant with a later application date. Statement of Condition: The Project’s waiting list did not include information regarding when a potential tenant was offered a vacant unit, the date they moved into the Project, or an explanation and the date of why they were passed over. Cause: The Project did not update the status of moved-in and potential tenants. Effect or Potential Effect: Unable to determine the date and time for the receipt of applications for proper waiting list placement and subsequent selection to occupancy. Auditor Non-Compliance Code: R – Section 8 Program Administration. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: The Project should implement procedures to ensure tenant applications contain all the appropriate documentation, inclusive of the date and time received. In addition, the waiting list should contain explanations for passing over tenants. Response Indicator: Agree. Completion Date: 12/31/2025 Response: Staff training has been provided with additional HUD training inclusive of EIV reporting and tenant file maintenance and included in monthly reporting procedures.
Finding 2024-002
FINDING No. 2024-002: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Resolved. Information on Universe Population Size: Eight tenants. Sample Size Information: Three tenants. Identification of Repeat Finding and Finding Reference Number: No. Criteria: As required by HUD regulations, the owner must refund the full security deposit plus accrued interest and/or provide the tenant with an itemized list of any unpaid rent, damages to the unit, and an estimated cost for repair, along with a statement of the tenant’s rights under state and local laws within 30 days from moveout. Statement of Condition: The Project refunded the security deposit 81 days after the tenant moved out, which is beyond the 30 day state and HUD requirement. Cause: The Project did not follow the state and HUD requirement for refunding security deposits within 30 days from tenant moveout. Effect or Potential Effect: The tenant was given their security deposit refund late, causing the Project to be noncompliant with state and HUD requirements. Auditor Non-Compliance Code: M – Security Deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor's recommendations have been adopted. Recommendation: The Project should comply with state law and HUD regulations for refunding security deposits timely. Response Indicator: Agree. Completion Date: 09/19/2024 Response: Staff training has been provided and included in monthly reporting procedures.