FAC Explorer

Audit 385347

FY End
2024-10-31
Total Expended
$3.53M
Findings
2
Programs
1
Organization: Alexia Manor Housing Corporation (OH)
Year: 2024 Accepted: 2026-02-03
Auditor: CLARK SCHAEFER HACKETT

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1172315 2024-001 Material Weakness Yes N
1172316 2024-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $305,298 Yes 1

Contacts

Name Title Type
HU24E3YK6ZC7 Jim Guzowski Auditee
2165910881 Devesh Kamal Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Alexia Manor Housing Corporation, HUD Project 042-EE058, under programs of the federal government for the year ended October 31, 2025. 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 Alexia Manor Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Alexia Manor Housing Corporation.
The outstanding balance of loan and loan guarantee programs at October 31, 2024 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $3,227,228.

Finding Details

Finding 2024-001
Criteria: Pursuant to the Regulatory Agreement, the Project was required to deposit $5,836 into the replacement reserve account on a monthly basis. Condition: The management company did not deposit twelve monthly replacement reserve deposits totaling $70,032 during the current fiscal year. Questioned Costs: $70,032 Cause: Management company failed to comply with the replacement reserve funding requirement. Effect: The underfunding of replacement reserve account by the management company resulted in the Project not to be in full compliance with its Regulatory Agreement. Recommendation: Management should enhance its internal controls to ensure management company’s compliance with replacement reserve account. Management Response: See Management’s Corrective Action Plan on page 34.