Audit 378196

FY End

2025-06-30

Total Expended

$3.27M

Findings

Programs

Organization: I.c. Corporation T/a Seton Manor (VA)

Year: 2025 Accepted: 2025-12-30

Auditor: BROWN EDWARDS & COMPANY LLP

Organization Exclusion Status:

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Findings

ID	Ref	Severity	Repeat	Requirement
1167145	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	$2.47M	Yes	0
14.195	PROJECT-BASED RENTAL ASSISTANCE (PBRA)	$757,948	Yes	1
14.191	MULTIFAMILY HOUSING SERVICE COORDINATORS	$35,836	Yes	0

Contacts

Name	Title	Type
ZCELXJEJLBP8	Kathryn, Overacker	Auditee
5405634565	John Shannon Aldridge	Auditor
No contacts on file

Notes to SEFA

The Corporation has received a Section 223(f) HUD insured mortgage. The loan balance outstanding at the beginning of the year is included in the schedule of expenditures of federal awards presented above. The Corporation received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 was $2,298,697.

Finding Details

Finding 2025-001

Security deposits are required to be refunded within 30 days of tenant’s move-out date in the appropriate amount. For one item out of two tested, we noted that a tenant moved out and did not receive their security deposit refund timely. The tenant moved out December 31, 2024, and the refund was not issued until February 17, 2025.