FAC Explorer

Audit 370922

FY End
2025-03-31
Total Expended
$7.18M
Findings
1
Programs
2
Organization: Senior Citizens Housing Development Fund Corporation of Steuben County (FL)
Year: 2025 Accepted: 2025-10-16
Auditor: Bellows Associates P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1160656 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $6.13M Yes 1
14.195 Project-Based Rental Assistance (pbra) $1.04M Yes 0

Contacts

Name Title Type
HZMJDJFDEUX4 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Senior Citizens Housing Development Fund Corporation of Steuben County, operating as Clyde F. Simon Lakeview Apartments, HUD Project No. 014-11247, 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 Senior Citizens Housing Development Fund Corporation of Steuben County, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Senior Citizens Housing Development Fund Corporation of Steuben County.
Senior Citizens Housing Development Fund Corporation of Steuben County received a HUD mortgage insurance for the refinancing of existing multifamily housing projects loan under section 207 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Senior Citizens Housing Development Fund Corporation of Steuben County received no additional loans during the year. The balance of the loan outstanding at March 31, 2025 was $5,988,673.

Finding Details

Finding 2025-001
FINDING No. 2025-001: Section 207/223(f) Mortgage Insurance for the Refinancing of Existing Multifamily Housing Projects, ALN 14.155 Finding Resolution Status: Unresolved. Information on Universe Population Size: Real estate taxes. Sample Size Information: Real estate taxes. Identification of Repeat Finding and Finding Reference Number: No. Criteria: Per HUD, all disbursements must only be used to pay for activities of the Project. Statement of Condition: The Project paid a real estate tax invoice that pertained to another Project in the amount of $7,840. Cause: The Project inadvertently paid an invoice on behalf of another project with a similar name. Effect or Potential Effect: Improper use of Project funds. Auditor Non-Compliance Code: S - Internal Control Deficiencies Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: Management should improve procedures to ensure payments made are for invoices in the name of the Project and the associated costs are reasonable and necessary for the Project. Response Indicator: Agree. Completion Date: 3/31/2026 Response: Staff training has been provided to ensure proper procedures are followed.