FAC Explorer

Audit 400665

FY End
2025-09-30
Total Expended
$5.71M
Findings
1
Programs
3
Organization: Evangeline Council Housing for the Elderly, INC (FL)
Year: 2025 Accepted: 2026-05-05
Auditor: BELLOWS ASSOCIATES P A

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1213757 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
14.155 MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS $4.71M Yes 1
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $921,259 Yes 0
14.191 MULTIFAMILY HOUSING SERVICE COORDINATORS $73,664 Yes 0

Contacts

Name Title Type
KANHE98W62B5 Irene Phillips Auditee
9548359200 Jennifer R. Koffman Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Evangeline Council Housing for the Elderly, Inc., HUD Project 064-11118, 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 Evangeline Council Housing for the Elderly, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Evangeline Council Housing for the Elderly, Inc.
Evangeline Council Housing for the Elderly, Inc. has received a HUD mortgage insurance for the refinancing of existing multifamily housing projects under section 207/223(f) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Evangeline Council Housing for the Elderly, Inc. received no additional loans during the year. The balance of the loan outstanding as of September 30, 2025, was $4,562,887.

Finding Details

Finding 2025-001
FINDING No. 2025-001: Section 207/223(f) Mortgage Insurance for the Refinancing of Existing Multifamily Housing Projects, ALN 14.155 Finding Resolution Status: Unresolved. Information on Universe Population Size: Replacement reserve account. Sample Size Information: All replacement reserve deposits for the year ended September 30, 2025. Identification of Repeat Finding and Finding Reference Number: Yes, 2024-001. Criteria: In accordance with HUD, timely monthly deposits must be made to the Project’s replacement reserve account. Statement of Condition: The Project overfunded the replacement reserve account by $634. Cause: The Project over-corrected the prior period finding, depositing more funds than necessary to resolve the issue. Effect or Potential Effect: Overfunding results in noncompliance with HUD deposit requirements and impacts cash availability for operations. Auditor Non-Compliance Code: N – Reserve for Replacements Deposits Reporting Views of Responsible Officials: The Project agrees with the finding and the auditor’s recommendations will be adopted. Recommendation: Management should implement procedures to ensure that the correct amount is deposited into the replacement reserve account each month. An approved form HUD-9250 should be obtained to remove the excess funds. Response Indicator: Agree. Completion Date: 9/30/2026 Response: The verification of the correct funding amounts is now confirmed against the approved form HUD-9250 on a monthly basis. This step has been added to the month-end close process.