FAC Explorer

Audit 387627

FY End
2022-12-31
Total Expended
$2.06M
Findings
5
Programs
2
Organization: Salem Housing Development Corporation (NE)
Year: 2022 Accepted: 2026-02-17
Auditor: DAUBY O'CONNOR & ZALESKI LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1173977 2022-001 Material Weakness Yes L
1173978 2022-002 Material Weakness Yes L
1173979 2022-003 Material Weakness Yes C
1173980 2022-004 Material Weakness Yes L
1173981 2022-005 Material Weakness Yes C

Programs

ALN Program Spent Major Findings
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $1.67M Yes 5
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $383,307 Yes 0

Contacts

Name Title Type
LB5BNE6J4Q19 Mark Owsley Auditee
4024901907 Jeff Lathrop Auditor
No contacts on file

Notes to SEFA

The balance of the HUD Section 207 pursuant to Section 223(f) mortgage note payable at December 31, 2022 is $1,674,178.

Finding Details

Finding 2022-001
For the year ended December 31, 2022, the Corporation did not submit audited financial statements to HUD within the required time period.
Finding 2022-002
For the year ended December 31, 2022, the Corporation did not submit audited financial statements to HUD within the required time period
Finding 2022-003
As of December 31, 2022, there was no segregated security deposit account and the liability of $11,902 was not properly funded.
Finding 2022-004
For the year ended December 31, 2021, the Corporation did not submit Data Collection Form to FAC within the required time period.
Finding 2022-005
At December 31, 2022, the management agent was unable to provide supporting invoice for 1 disbursement.