FAC Explorer

Audit 398225

FY End
2025-12-31
Total Expended
$1.67M
Findings
2
Programs
1
Organization: Fraser Independent Living Project Iii, Inc., Excelsior Court (MN)
Year: 2025 Accepted: 2026-04-09
Auditor: EIDE BAILLY

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1206243 2025-001 Material Weakness Yes E
1206244 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $68,405 Yes 1

Contacts

Name Title Type
XD88UC67FMY5 Jim Strickland Auditee
6128611688 Reggie Macmaster Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Fraser Independent Living Project III, Inc. (the Organization) under programs of the federal government for the year ended December 31, 2025. The information 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 the Fraser Independent Living Project III, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Fraser Independent Living Project III, Inc..
Expenditures reported in this schedule consist of the beginning of the year outstanding loan balance plus advances made on the loan during the year. The outstanding balance at December 31, 2025 was $1,598,200.

Finding Details

Finding 2025-001
U.S. Department of Housing and Urban Development Federal Financial Assistance Listing 14.181 Section 811 Eligibility Significant Deficiency in Internal Control over Compliance and Instance of Noncompliance Criteria: Pursuant to the terms of the agreement and HUD requirements, annual tenant certifications are to be completed and verified to determine the calculation of rental assistance to be received by the tenant. Certifications should be accurately completed, reviewed, and approved to support compliance reporting. Condition: One tenant file selected for testing had an incorrect component of the calculation, resulting in an incorrect calculation of tenant assistance. Cause: The exception appears to be due to oversight in the calculation and secondary review to ensure accurate information and calculations were included to determine tenant assistance amounts. Effect: Due to the incorrect calculations, the rental assistance amounts paid were incorrect, which could result in noncompliance with HUD requirements. Questioned Costs: None reported. Repeat Finding from Prior Year(s): No Recommendation: We recommend management strengthen tenant file and calculation review procedures to ensure all required eligibility documentation is retained in the file in accordance with HUD requirements. Views of Responsible Officials: Management agrees with the finding.