FAC Explorer

Audit 384349

FY End
2025-09-30
Total Expended
$4.77M
Findings
2
Programs
2
Organization: Talbot Bernard Senior Housing Corporation (MA)
Year: 2025 Accepted: 2026-01-29
Auditor: DANIEL DENNIS & COMPANY LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1170970 2025-001 Material Weakness Yes N
1170971 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $748,562 Yes 0
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $469,757 Yes 1

Contacts

Name Title Type
GE8GLHCREUW6 Colleen Dalfonso Auditee
6172629898 Colleen Dalfonso Auditor
No contacts on file

Notes to SEFA

The Section 202 capital advance and HOME loan which were received in prior fiscal years are included on the Schedule at their outstanding balances as of October 1, 2024, as they include continuing compliance requirements from U.S. Department of Housing and Urban Development. There were no additional proceeds received or payments made on these loans during fiscal year 2025. At September 30, 2025, the outstanding balances on the Section 202 capital advance and HOME loan were $3,553,250 and $748,562, respectively.
There were no Federal awards passed through to sub-recipients by Talbot Bernard Senior Housing Corporation during fiscal year 2025.

Finding Details

Finding 2025-001
2025-001 Replacement Reserve Deposits Federal Agency: U.S. Department of Housing and Urban Development (HUD) Federal Program: 14.571 Supportive Housing for the Elderly Condition: The replacement reserve deposits were underfunded for eight of the twelve months in fiscal year 2025. Criteria: An amount, as required by HUD, will be deposited monthly in the replacement reserve account. Cause: The Corporation did not receive notification from HUD of a replacement reserve increase until July 24, 2025, included in that notification was that the replacement reserve increase was retroactive to February 1, 2025. The Corporation also did not receive notification of a rent increase until July 24, 2025, included in that notification was that the rent increase was retroactive to February 1, 2025. Funding for the rent increase was not released from HUD to the Corporation until November 2025. Funding from the rent increase was necessary to enable the Corporation to fund the increased replacement reserve requirement. Effect: The deposits to the replacement reserve account were under funded by $94,640 for fiscal year 2025. Context: A sample of twelve months were selected for the replacement reserve account to determine if the monthly required deposits were deposited in accordance with HUD requirements. Our test found that for eight months, the deposit was underfunded. Our sample was not a statistically valid sample. Questioned Costs: None Recommendations: Management should ensure that the required deposits to the replacement reserve account are made in accordance with the agreements.Management Response: Funding for the increased replacement reserve deposits was not available until the rent increase was funded in November 2025; therefor it was not possible for the replacement reserve to be fully funded for the Corporation’s year ended September 30, 2025. The replacement reserve was fully funded in December 2025.