FAC Explorer

Audit 402381

FY End
2025-10-31
Total Expended
$1.95M
Findings
1
Programs
2
Organization: Trinity Housing CORP of Greeley (CO)
Year: 2025 Accepted: 2026-05-28
Auditor: DAUBY O'CONNOR & ZALESKI LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1215717 2025-001 Material Weakness Yes A

Programs

ALN Program Spent Major Findings
14.195 PROJECT-BASED RENTAL ASSISTANCE (PBRA) $1.02M Yes 0
14.188 HOUSING FINANCE AGENCIES (HFA) RISK SHARING $930,154 Yes 1

Contacts

Name Title Type
LNB8ET6VEFQ7 Brooke Parra Auditee
3038607885 Jacob Buehler Auditor
No contacts on file

Notes to SEFA

The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
The balance of the Housing Finance Agencies (FHA) Risk Share mortgage note payable at October 31, 2025 is $902,443 ($1,804,885 x 50%). See Note 2.

Finding Details

Finding 2025-001
Finding Reference number: #2025-001 Assistance Listing title and number (federal award identification number and year): Housing Finance Agencies (HFA) Risk Sharing No. 14.188 (101-98145 and 2015) Auditor non-compliance code: H - Unauthorized distribution of project assets Finding resolution status: Open Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $36,802 Statement of condition #2025-001: During the year ended October 31, 2025, the Corporation paid entity expenses of $36,802. Criteria: Section 4 of the Regulatory Agreement states that funds shall be withdrawn only for expenses of the development. Effect or potential effect: The Corporation is not in compliance with the Regulatory Agreement at October 31, 2025. Cause: Project funds in the amount of $36,802 were withdrawn for the payment of entity legal expenses. Recommendation: The Borad of Directors should reimburse the Corporation for the entity expenses paid. Completion date: October 31, 2026 Management response: Management agrees with the finding and concurs with the auditor's recommendation.