FAC Explorer

Audit 405449

FY End
2025-09-30
Total Expended
$2.99M
Findings
1
Programs
2
Organization: St. Agnes Senior Citizen Housing Development Fund Company, Inc. (NY)
Year: 2025 Accepted: 2026-06-29
Auditor: PRAGER METIS CPAS LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1220601 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
14.157 SUPPORTIVE HOUSING FOR THE ELDERLY $1.67M Yes 1
14.195 SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM $1.32M Yes 0

Contacts

Name Title Type
DAY7E2NKJLG9 Richard Balcom Auditee
5167337032 Satang Janneh Auditor
No contacts on file

Notes to SEFA

The Project has received a U.S. Department of Housing and Urban Development mortgage loan under Section 202 of the National Housing Act. The mortgage loan balance outstanding at the beginning of the year is included in the total federal expenditures presented in the Schedule. The outstanding mortgage loan balance as of September 30, 2025 was $1,458,418.

Finding Details

Finding 2025-001
Federal Program: Supportive Housing for the Elderly (AL #14.157) Federal Award: Section 202 Direct Loan Federal Agency: U.S. Department of Housing and Urban Development Criteria: In accordance with HUD Handbook 4350.3 Rev-1, Chapter 7, Owners of HUD assisted multifamily housing properties must perform annual recertifications of income and family composition and adjust tenant rent accordingly. Compliance with HUD occupancy requirements is mandatory for continued subsidy payments. Condition: During the review of tenant files for the year ended September 30, 2025, 5 out of 6 sampled tenant files lacked timely annual recertifications. For these sampled files, the managing agent did not complete the annual Owner’s Certification of Compliance with HUD’s Tenant Eligibility and Rent Procedures by the required anniversary date. Cause: Staff turnover contributed to the delay in completion of the annual recertifications. Effect: Failure to complete annual recertifications timely may result in incorrect tenant rent, improper subsidy payments and potential HUD enforcement actions, including repayment of overpaid assistance. Recommendation: Management should train staff regarding annual recertification rules and implement procedures to ensure timely completion of annual recertifications. Management’s Views and Corrective Action Plan: Management agrees with the finding and will implement procedures to train staff as well as procedures to ensure timely completion of annual recertifications.