FAC Explorer

Audit 371368

FY End
2025-06-30
Total Expended
$1.72M
Findings
2
Programs
1
Organization: Cornerstone Housing North, Inc. (NH)
Year: 2025 Accepted: 2025-10-28
Auditor: LEONE MCDONNELL & ROBERTS P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1161456 2025-001 Material Weakness Yes P
1161457 2025-001 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $1.62M Yes 1

Contacts

Name Title Type
LEJBJV2JA8N6 Randall Pilotte Auditee
6037527001 Shauna Brown Auditor
No contacts on file

Notes to SEFA

NOTE C: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM: Cornerstone Housing North, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 202 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. Cornerstone Housing North, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of: ALN 14.157 Section 202 Capital Advance $1,617,600

Finding Details

Finding 2025-001
Finding status: In process Information or Universe Population Size: residual receipts withdrawal. Sample Size Information: One withdrawal. Indication of repeat finding: no Criteria: Excess residual receipts are required to be returned to HUD. Condition: HUD 9250 form was approved to have the excess residual receipts returned to HUD. The withdrawal was made from the residual receipts account but not returned to HUD. Cause: Lack of oversight by property manager. Effect: Residual receipts required to be returned to HUD are in the operating cash account for the property. Context: Auditor received the 9250 form noting that approval was given for the amount in excess of the $250 per unit to be returned to HUD. The withdrawal was made and deposited into the operating account and was not returned to HUD. Recommendation: A procedure be implemented to ensure if withdrawals are made that they are immediately returned to HUD.