FAC Explorer

Audit 370421

FY End
2025-06-30
Total Expended
$860,397
Findings
1
Programs
1
Organization: Rose Arc Housing, Inc. (RI)
Year: 2025 Accepted: 2025-10-03
Auditor: Otrando Porcaro & Associates LTD

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1159878 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.181 Supportive Housing for Persons with Disabilities $84,697 Yes 0

Contacts

Name Title Type
RCU2EPFRKDU7 Kimberly Ash Auditee
4017229540 Gregory A. Porcaro, Cpa/abv, Mst, Cff Auditor
No contacts on file

Notes to SEFA

The Corporation has received a U.S. Department of Housing and Urban Development Capital Advance under section 811 of the National Housing Act. The capital advance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. The Corporation received no additional loans during the year. The balance of the capital advance outstanding at June 30, 2025, consists of the following: Assistance Listing Number - 14.181; Program Name - Supportive Housing for Persons with Disabilities; Outstanding Balance - $775,700

Finding Details

Finding 2025-001
Replacement Reserve Deposits: Criteria - Replacement reserve deposits should be made monthly in an amount determined by HUD; Condition - During the year ended June 30, 2025, insufficient deposits were made to the replacement reserve account; Cause - The project failed to make the required deposits to the replacement reserve; Effect or Potential Effect - The project is in violation of HUD replacement reserve procedures; Questionsed Costs - None; Perspective - Deposits totaling $4,926 were expected in the period. Deposits totaling only $4,458 were made during the period; Repeat Finding - Yes