FAC Explorer

Audit 401967

FY End
2025-12-31
Total Expended
$1.79M
Findings
1
Programs
3
Organization: The Bridge Housing Corporation (OR)
Year: 2025 Accepted: 2026-05-21
Auditor: PLATFORM CPAS LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1215398 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.181 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES $1.48M Yes 1
14.239 HOME Investment Partnership Program $239,245 Yes 0
14.218 Community Development Block Grants/Entitlement Grants $63,500 Yes 0

Contacts

Name Title Type
NMA4JEUWNVM7 Karen Voiss Auditee
5032728908 Greg Montplaisir 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 Bridge Housing Corporation (the “Company”) 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Company.
The Company has received loans funded by programs of U.S. Department of Housing and Urban Development. Such balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. Such balances have been included as net assets in the financial statements of the Company as of December 31, 2025, since the likelihood of repayment is remote. The Company received no additional loans during the year ended December 31, 2025. The balances of the loans outstanding at December 31, 2025 are as follows: CFDA Number Program Name Outstanding Balance 14.181 Section 811 Capital Advance Mortgage $ 1,373,700 14.239 HOME Investment Partnership Program 89,245 Total $ 1,462,945

Finding Details

Finding 2025-001
Finding No. 2025-001 – Section 811 – Federal Assistance Listing Number 14.181 Type of Finding – Federal Award Finding Finding Resolution Status – Resolved Identification of Repeat Finding and Finding Reference Number – N/A Criteria or Specific Condition – The owner is responsible for annually reexamining incomes of households occupying assisted units and make appropriate adjustments to the tenant payment and the project rental assistance payment (24 CFR section 891.410). Statement of Condition – Annual recertifications for existing tenants were not completed in a timely manner for 13 of the 14 units during the year ended December 31, 2025. Although the property management company continued to submit monthly vouchers based on prior certifications, HUD discontinued subsidy payments for four units for the month of August 2025 due to noncompliance. As a result, subsidy revenue of $2,481 related to the four affected units and tenant rent of $1,538 for 6 out of the 13 units totaling $4,019 were not collected and were subsequently written off as vacancy loss. The later certifications were corrected retroactively to September 2025 on the December 2025 HAP voucher. Cause – The annual recertification was not done in a timely manner due to staffing issues at the property management company. Effect or Potential Effect – The Project is not in compliance with the regulatory requirements. Auditor Non-Compliance Code – Z – Eligibility Questioned Costs – $4,019 Reporting View of Responsible Officials – We concur with the auditor’s recommendation. Recommendation – The Project should complete the recertification process for the tenants in a timely manner. Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations – Agree Response Indicator – Agree Completion Date – December 1, 2025 Response – The tenant recertifications will be monitored by the owner to ensure they are being completed in a timely manner.