FAC Explorer

Audit 404385

FY End
2025-12-31
Total Expended
$6.15M
Findings
3
Programs
6
Organization: Lake Pepin Plaza LLC (MN)
Year: 2025 Accepted: 2026-06-23
Auditor: BRADY MARTZ PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1218177 2025-001 Material Weakness Yes E
1218178 2025-001 Material Weakness Yes E
1218179 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.871 SECTION 8 HOUSING CHOICE VOUCHERS $3.58M Yes 0
10.427 RURAL RENTAL ASSISTANCE PAYMENTS $309,049 Yes 0
14.850 PUBLIC HOUSING OPERATING FUND $254,785 Yes 0
14.872 PUBLIC HOUSING CAPITAL FUND $111,798 Yes 0
10.415 RURAL RENTAL HOUSING LOANS $71,264 Yes 1
14.896 FAMILY SELF-SUFFICIENCY PROGRAM $39,801 Yes 0

Contacts

Name Title Type
R666JM6F61G3 Justin Stotts Auditee
6515652638 Brian Opsahl Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule includes the federal award activity of the Southeastern Minnesota Multi-County Housing and Redevelopment Authority 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 the Southeastern Minnesota Multi-County Housing and Redevelopment Authority, it is not intended to and does not present the financial position, change in net position, or cash flows of Southeastern Minnesota Multi- County Housing and Redevelopment Authority.
The Southeastern Minnesota Multi-County HRA has guaranteed debt in the Rural Rental Housing loans (AL 10.415) in the amount of $1,726,624 as of December 31, 2025.

Finding Details

Finding 2025-001
2025-001 Eligibility Federal Program U.S. Department of Agriculture AL #10.415 – Significant Deficiency Grant Award No. Rural Rental Housing Loans Federal Award Year 2025 Criteria As a condition of funding, the SEMMCHRA must provide accurate information and documentation to verify income eligibility (2 CFR section 200.208). Condition During review of tenant files, we noted one instance in which the SEMMCHRA did not use the correct income amount in their calculation to determine a tenant’s eligibility for assistance. Questioned Costs None Context We tested a sample of 14 of the Authority’s 131 tenant files and found that an improper calculation was performed in one tenant file. Effect Tenants who do not meet eligibility requirements may receive assistance. Cause Lack of appropriate review of tenant income calculations. Repeat Finding Not a repeat finding. Recommendation We recommend the SEMMCHRA reviews its internal control procedures to ensure a quality control review is performed to verify all required documentation and calculations are maintained in the tenant files. Views of Responsible Officials Management recognizes the deficiency and plans to implement the auditor’s recommendation.