Cliff View Village II, Inc.’s capital advance balance outstanding as of December 31, 2025 was $1,652,533 and is included in the federal expenditures presented in the schedule.
Section III – Federal Awards Findings Type of Finding: Other Matter Finding #2025-001: Section 202 Capital Advance, Assistance Listing 14.157 Condition: Under terms of the HUD regulatory agreement, the Company is required to deposit excess rent into the residual receipt account. The Company did not deposit excess rent of $120. Criteria: The HUD regulatory agreement requires the Company to deposits excess rent into the residual receipt account. Effect: The Company is in violation of its Regulatory Agreement. Questioned Cost: $120 Repeat Finding: No Cause: Oversight Recommendation: We recommend the Company deposit $120 into the residual receipts account. Further, we recommend the Company review the regulatory agreement to ensure compliance. Auditor’s Comment: During March 2026, the Company deposited $120 into the residual receipts account. Finding 2025-001 Cleared.