FAC Explorer

Audit 399817

FY End
2025-12-31
Total Expended
$4.59M
Findings
1
Programs
1
Organization: Sacred Heart Village II Inc. (DE)
Year: 2025 Accepted: 2026-04-27
Auditor: BELFINT LYONS & SHUMAN P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1208875 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $375,168 Yes 0

Contacts

Name Title Type
PCALQJNYL745 Karen Smith Auditee
3025161068 Jonathan Moll Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards presents the activities in the federal assistance programs of the Organization. All financial awards received directly or indirectly from federal agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of OMB Compliance Supplement. The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Management believes all federal awards considered necessary for a fair presentation in accordance with Government Auditing Standards have been included. The outstanding balance as of December 31, 2025, on the capital advance was $4,219,200. The Organization has elected not to use the 10% de minimis indirect cost rate. Amounts reported in the accompanying schedule agree with amounts reported in the Organization’s financial statements.

Finding Details

Finding 2025-001
Condition: The Organization funded its reserve for replacement account in the amount of $48,000 during the year ended December 31, 2025. This amount meets the annual funding requirement and reduces the cumulative underfunded amount. However, the reserve for replacement account is underfunded by $47,691 as of December 31, 2025, due to the cumulative effect of underfunding the reserve in previous years. Criteria: As required by the Regulatory Agreement with HUD, the Organization must fund a reserve for replacement account in the amount of $30,005 on an annual basis. Cause: The Organization did not possess adequate cash flow to meet the requirement in previous years. Effect: The reserve for replacement account was underfunded during the years ended December 31, 2017 through 2021. During those years, the Organization was not in compliance with the reserve for replacement requirement as stated in the Regulatory Agreement. As of December 31, 2025, the reserve for replacement account was underfunded by a total of $47,691. Recommendation: As cash flow allows, we recommend that the Organization continue making additional payments to the reserve for replacement account to correct the cumulative underfunded amount.