FAC Explorer

Audit 372036

FY End
2025-03-31
Total Expended
$3.87M
Findings
1
Programs
2
Organization: Jacksonville Towers, INC (FL)
Year: 2025 Accepted: 2025-11-12
Auditor: BELLOWS ASSOCIATES P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1162225 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $3.06M Yes 0
14.195 SECTION 8 PROJECT BASED RENTAL ASSISTANCE $811,092 Yes 1

Contacts

Name Title Type
LNLJYFW4ZGU7 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Jacksonville Towers, Inc., HUD Project No. 082-11090, 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 (CFR) 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 Jacksonville Towers, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Jacksonville Towers, Inc.
Jacksonville Towers, Inc. has received a HUD mortgage insurance for the refinancing of existing multifamily rental 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. Jacksonville Towers, Inc. received no additional loans during the year. The balance of the loan outstanding as of March 31, 2025 was $2,975,667.

Finding Details

Finding 2025-001
FINDING No. 2025-001: Section 8 Project Based Rental Assistance, ALN 14.195 Finding Resolution Status: Unresolved. Information on Universe Population Size: One hundred thirteen tenants. Sample Size Information: Twenty tenants. Identification of Repeat Finding and Finding Reference Number: Yes, 2024-001. Criteria: HUD regulation requires all initial and ongoing tenant eligibility documentation to be obtained timely and maintained during tenancy. Statement of Condition: Missing documentation in tenant files: • Two tenants did not have background checks performed. • Two tenants files were missing lease addendums. • One tenant file was missing the VAWA policy. Cause: The Project did not maintain appropriate tenant eligibility documentation as required by HUD. Effect or Potential Effect: Unable to verify tenant eligibility and cost of assistance may be disallowed. 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 that initial and ongoing tenant eligibility documentation is obtained timely and properly maintained. Response Indicator: Agree. Completion Date: 3/31/2026 Response: Staff training has been provided with additional HUD training inclusive of EIV reporting and tenant file maintenance and included in monthly reporting procedures.