FAC Explorer

Audit 384633

FY End
2025-06-30
Total Expended
$2.73M
Findings
1
Programs
2
Organization: Senior Citizens Housing Dev CORP of Chicago Dba Senate Apartments (FL)
Year: 2025 Accepted: 2026-01-30
Auditor: BELLOWS ASSOCIATES P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1171339 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $1.82M Yes 1
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $913,535 Yes 0

Contacts

Name Title Type
UDUKDN3DEYC1 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 grant activity of Senior Citizens Housing Development Corporation of Chicago, operating as Prete Apartments, HUD Project No.071-EH433 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 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 Senior Citizens Housing Development Corporation of Chicago, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Senior Citizens Housing Development Corporation of Chicago.
Senior Citizens Housing Development Corporation of Chicago has received a HUD mortgage note under Section 202 of the Housing Act of 1959. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Senior Citizens Housing Development Corporation of Chicago received no additional loans during the year. The balance of the loan outstanding as of June 30, 2025 was $1,651,447.

Finding Details

Finding 2025-001
FINDING No. 2025-001: Section 202 Supportive Housing for the Elderly, ALN 14.157 Finding Resolution Status: Unresolved. Information on Universe Population Size: All replacement reserve deposits for the year ended June 30, 2025. Sample Size Information: All replacement reserve deposits for the year ended June 30, 2025. Identification of Repeat Finding and Finding Reference Number: No. Criteria: In accordance with HUD, the required monthly deposit must be made to the Project's reserve for replacement account. Statement of Condition: The Project underfunded the account by $862. Cause: The Project did not properly implement the funding increase throughout the year. Effect or Potential Effect: Deficiently funded reserve for replacements. Auditor Non-Compliance Code: N – Reserve for Replacements Deposits. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: Management should implement procedures to ensure the correct amount is deposited into the replacement reserve account each month. Response Indicator: Agree. Completion Date: 6/30/2026 Response: We will ensure that RR is fully funded on a monthly basis. New procedures have been implemented to review the deposits each month to ensure proper amounts.