FAC Explorer

Audit 392365

FY End
2025-06-30
Total Expended
$5.63M
Findings
1
Programs
4
Organization: Edward M. Marx Apartments, Inc. (FL)
Year: 2025 Accepted: 2026-03-17
Auditor: BELLOWS ASSOCIATES P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1180712 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY - CAPITAL ADVANCE $4.70M Yes 0
14.239 HOME INVESTMENT PARTNERSHIPS PROGRAM $397,105 Yes 0
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY - PROJECT RENTAL ASSISTANCE CONTRACTS $313,817 Yes 1
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $215,395 Yes 0

Contacts

Name Title Type
KB7BZ5E3LYT1 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal award activity of Edward M. Marx Apartments, Inc., HUD Project No.071-EE244, 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 Edward M. Marx Apartments, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Edward M. Marx Apartments, Inc.
Edward M. Marx Apartments, Inc., has received a HUD capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. Edward M. Marx Apartments, Inc., received no additional loans during the year. The balance of the capital advance outstanding as of June 30, 2025 was $4,698,900.

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: Thirty-two tenants. Sample Size Information: Five tenants. Identification of Repeat Finding and Finding Reference Number: No. Criteria: HUD regulations require all initial and ongoing tenant eligibility documentation to be obtained timely and maintained during tenancy. Statement of Condition: Missing documentation in tenant files: Initial EIV report within 90 days of being entered into TRACS system for one tenant; Recertification EIV report for four tenants; Lease addendums in tenant files; Copy of the rent payment for the entire year for one tenant; Application for housing was not stamped with the date and time received for one tenant. Cause: The Project did not accurately follow HUD regulations for tenant eligibility and occupancy. Effect or Potential Effect: Unable to verify tenant eligibility and cost of assistance may be disallowed. Auditor Non-Compliance Code: R – Section 8 Program Admin. Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendation will be adopted. Recommendation: Management should ensure that initial and ongoing tenant eligibility documentation is obtained timely and appropriately maintained. Response Indicator: Agree. Completion Date: 06/30/2026 Response: Staff training has been provided with additional HUD training inclusive of EIV reporting and tenant file maintenance and included in monthly reporting procedures.