FAC Explorer

Audit 386709

FY End
2025-09-30
Total Expended
$1.93M
Findings
6
Programs
1
Organization: Indian Town Home Association (IL)
Year: 2025 Accepted: 2026-02-11
Auditor: CLIFTONLARSONALLEN LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1173229 2025-001 Material Weakness Yes E
1173230 2025-002 Material Weakness Yes E
1173231 2025-003 Material Weakness Yes AB
1173232 2025-001 Material Weakness Yes E
1173233 2025-002 Material Weakness Yes E
1173234 2025-003 Material Weakness Yes AB

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $1.82M Yes 3

Contacts

Name Title Type
C6JXX7L1GWH3 Jennifer Medearis Auditee
3093561112 Rusty Gibson Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Indian Town Home Association under programs of the federal government for the year ended September 30, 2025. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Indian Town Home Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Indian Town Home Association.
The mortgage note in the amount of $1,824,900 to the U.S. Department of Housing and Urban Development is secured by the apartment project. The Organization did not receive any federal awards in the form of noncash assistance for insurance in effect during the year. In addition, the Organization did not pass through any federal grants to subrecipients.

Finding Details

Finding 2025-001
Segregation of Duties See Section II – Financial Statement Findings Federal Agency: U.S. Department of Housing and Urban Development Federal Program: Supportive Housing for the Elderly (Section 202) Mortgage Financing Section 202 Project Rental Assistance Contract Assistance Listing #: 14.157 Questioned Costs: None Type of Finding: • Material Weakness in Internal Control over Compliance
Finding 2025-002
Security Deposits Federal Agency: U.S. Department of Housing and Urban Development Federal Program: Supportive Housing for the Elderly (Section 202) Mortgage Financing Section 202 Project Rental Assistance Contract Assistance Listing #: 14.157 Type of Finding: • Other Matter and Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: HUD requires refunds to be disbursed to the former tenant and in the appropriate amount within 30 days of move-out. If no refund is given, the tenant should received an itemized listing of any unpaid rent, damages to the unit, and any estimated cost for repair. Condition: We noted a refund was provided to a tenant 32 days after the tenant’s move-out date. Questioned Costs: None Context: We noted a refund was provided to a tenant 32 days after the tenant’s move-out date. Cause: Management oversight. Effect: The Organization is not in compliance with HUD requirements. Repeat Finding: No Recommendation: The Organization should ensure move-out notifications are provided to the accounting office in a timely manner to ensure the tenant's security deposit is processed and refunded within 30 days of the move out date. Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the finding. Management will process the related move-out supporting documentation in a timely manner that will allow for the processing of the security deposit payment within 30 days of the actual move-out date.
Finding 2025-003
Lack of Supporting Documentation Federal Agency: U.S. Department of Housing and Urban Development Federal Program: Supportive Housing for the Elderly (Section 202) Mortgage Financing Section 202 Project Rental Assistance Contract Assistance Listing #: 14.157 Type of Finding: • Other Matter and Significant Deficiency in Internal Control over Compliance Criteria or Specific Requirement: According to 2 CFR 200, all disbursements must be supported by appropriate documentation to ensure the accuracy and reliability of compliance with applicable regulations. Condition: We noted that two disbursements did not have supporting invoices. Questioned Costs: None Context: During the fiscal year there was a change in personnel and during that transition two invoices were misplaced. Cause: Management oversight. Effect: The absence of supporting documentation for disbursements increases the risk of financial misstatement and may lead to unauthorized or inappropriate transactions. Repeat Finding: No Recommendation: The Organization should strengthen their record retention policy to ensure that proper support for disbursements is maintained. Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the finding. Management will maintain invoices for all disbursements.