FAC Explorer

Audit 368639

FY End
2024-09-11
Total Expended
$6.60M
Findings
2
Programs
3
Organization: Walden Oaks Apartments Preservation 071-11262 (ID)
Year: 2024 Accepted: 2025-09-29
Auditor: Rubinbrown LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1156337 2024-001 Material Weakness Yes L
1156338 2024-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $5.60M Yes 1
14.195 Project-Based Rental Assistance (pbra) $935,796 Yes 1
14.191 Multifamily Housing Service Coordinators $67,195 Yes 0

Contacts

Name Title Type
C9YVCXXCFDL3 Laura Selby Auditee
3126026500 Chris Langley Auditor
No contacts on file

Notes to SEFA

As of December 31, 2024, the loan balance is $5,598,889. The loan balance is insured under HUD Section 207, pursuant to Section 223(f).

Finding Details

Finding 2024-001
The audit is to be submitted to HUD through the REAC system in accordance with the Regulatory Agreement and HUD’s guidelines. The Project did not electronically submit its financial statements to HUD.It is the responsibility of the Partnership to ensure that the financial statements are electronically submitted to HUD. The Project was not in compliance with HUD regulations.