FAC Explorer

Audit 380158

FY End
2025-06-30
Total Expended
$1.15M
Findings
1
Programs
2
Organization: Riverside Episcopal Housing Development Fund Company, Inc. (NY)
Year: 2025 Accepted: 2026-01-08
Auditor: EFPR GROUP CPA’S PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1168350 2025-001 Material Weakness Yes C

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $878,854 Yes 1
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $270,427 Yes 0

Contacts

Name Title Type
UYAQDH7MQDJ1 Jim Juliano Auditee
7169295800 David Urban, CPA Auditor
No contacts on file

Notes to SEFA

No amounts were provided to subrecipients.
The amount reported for Assistance Listing No. 14.157 in expenditures relates to U.S. Department of Housing and Urban Development Supportive Housing for the Elderly (Section 202) loan. The ending balance of the loan is $805,696 at June 30, 2025.

Finding Details

Finding 2025-001
Condition - The reserve for replacements account is underfunded by $11,232 for the year ended June 30, 2025. Criteria - As part of Special Tests and Provisions related to Assistance Listing Number 14.157 - Supportive Housing for the Elderly, the Company is required to deposit $3,744 in a reserve for replacements account on a monthly basis. Effect - The Company was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Recommendation - We recommend that the delinquent deposits totaling $11,232 for the year ended June 30, 2025 be deposited into the reserve for replacements account as soon as possible. Management's Response - (a) Comments on the finding and recommendation: Management agrees with the finding. Management also agrees with the recommendation, please see below for action taken. (b) Action taken: Management informed us that the amount will be deposited as soon as cash flow and operational circumstances permit.